Bareksa.com - Average daily volumes in the global foreign exchange market dipped slightly in November but were still above the $5 trillion mark for the third month in a row, data from FX settlement system CLS showed on Friday.

The value of all transactions through the CLS system, which is used almost universally by the banking industry to process or settle trades, fell to $5.17 trillion a day from $5.29 trillion in October.

That was still higher than the $4.89 trillion a day seen in the world's largest and most liquid market in November 2013.

Input volumes submitted to CLS -- the number of instructions received by the system on a given day for future settlement -- were down 5.4 percent month-on-month, the company said.

Both Thomson Reuters and EBS, among the industry's biggest trading platforms, reported falls in foreign exchange volumes in November, following a surge a month earlier when the Bank of Japan shocked markets with another round of quantitative easing, prompting a sharp fall in the yen. (Source: Reuters)