LONDON, April 10 (Reuters) - The average daily value of transactions settled in the foreign exchange market crossed $5 trillion in March, with the volume of currency payment instructions also picking up from a month earlier, FX settlement system CLS Bank said on Tuesday.
CLS settled an average daily value of $5.07 trillion, up from $4.68 trillion in February and well above the $4.24 trillion registered in January. This is the second time values have risen above $5 trillion having zoomed past that level in June last year, according to CLS.
Volumes submitted to CLS in March rose to 1,070,371, up 5 percent from February. The average daily volume rose to 770,109 from 724,132 in February.
The CLS Aggregation Service aggregated a daily average of 312,185 instructions, up from 306,504 in February and 189,569 at the end of last year. This was the highest monthly figure recorded to date, the bank said in a statement.