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Taipei Foreign Exchange Market April 2024

Central Bank of the Republic of China(Taiwan)

PRESS RELEASE                                         Release Date: May 22, 2024

Taipei Foreign Exchange Market April 2024

The Taipei foreign exchange market covers all foreign exchange transactions made by authorized foreign exchange banks and offshore banking units. After eliminating double counting arising from interbank transactions, total net trading volume in the market amounted to US$878.9 billion in April 2024. The average daily turnover was US$43.9 billion.

1. By trading counterparty:(USD billions)

Transactions between banks and customers

Interbank transactions

Amount

 %

%

 

Amount

%

262.7

29.9

With domestic banks

 183.4

20.9

With foreign banks

 432.8

49.2

Total

 616.2

70.1

 

2. By trading currency:(USD billions)

NTD/foreign currency

Third currency

 

Amount

%

 

Amount

%

NTD/USD

  375.2

 42.7

USD/RMB

179.5

 20.4

NTD/Other foreign currencies

   13.3

  1.5

USD/YEN

 74.4

  8.5

Total

  388.5

 44.2

EUR/USD

 69.2

  7.9

 

 

 

 

AUD/USD

 41.1

  4.7

GBP/USD

 14.9

  1.7

Other foreign currencies

111.3

 12.6

Total

490.4

 55.8

 

3. By transaction type:(USD billions)

 Items

Amount

%

Foreign exchange swaps

465.0

52.9

Spot transactions

337.6

38.4

Outright forwards

 51.5

 5.8

Options

 22.9

 2.6

Cross currency swaps

  1.6

 0.2

Margin trading

  0.3

 0.1

 

4. By trading platform:(USD billions)

Items

Amount

%

Through brokers

 327.0

37.2

Direct dealing

 551.9

62.8

 

In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In April 2024, the turnovers of interest rate swaps and interest rate options were US$9.7 billion and US$0.4 billion, respectively.

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