Another Month of Double Digits Decline in Volumes for Alpari Russia

Alpari Russia has just released its trading volume numbers for the month of May 2014, which include data from Russia and the Commonwealth of Independent States (CIS), which encompasses a number of former Soviet Republics. The figures reveal that during the month of May, the turnover for the region dropped by 13.4% when compared to the month of April 2014, reaching only about $93.3 billion.

The total number of lots was not released by Alpari this month but the breakdown of the three most popular FX pairs was. The biggest share of FX trading resulted from the EUR/USD pair which accounted for 49.2% of trading, followed by the GBP/USD at 18.9% (down from 28.8% the previous month) and the USD/JPY which took 6%.

The decline in volumes might be related to the ongoing crisis in the Ukraine, that was a major part of the CIS market in the past. April figures released last month showed a decline of 18% for Alpari volumes in Russia and the CIS, so the company is going to finish with a very weak quarter and it will be interesting to see when it moves back above the $100 billion mark.