The relative importance of the euro also increased by almost half a percentage point in global derivatives markets such as OTC interest rate derivatives, and by around one percentage point when used in cross-border loans and deposits. When used as an invoicing currency in increased by around half a percentage point and five percentage points, respectively.
With non-EU countries, however, trade invoicing patterns remained relatively stable. The trading volume in global foreign exchange markets rose to almost 4 trillion USD in April 2010 as compared to 3.3 trillion USD in April 2007. In fact the Euro proved to be recognized as a safe haven currency.