Trading Activity in the Taipei Foreign Exchange Market in May 2005
PRESS RELEASE Release Date: July 1, 2005
Trading Activity in the Taipei Foreign Exchange Market
in May 2005
The trading activity in 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$225.6 billion in May 2005. The average daily turnover was US$10.7 billion (Table 1).
Transactions between banks and customers accounted for 29.4 percent of total net turnover, with interbank transactions making up the remaining 70.6 percent (Graph 1).
NT dollar/foreign currency trading accounted for 48.2 percent of total trading volume, of which the share of NTD/USD trades was 45.5 percent (Graph 2).
Spot transactions accounted for the lion’s share with 52.2 percent of total turnover followed by foreign exchange swaps with 27.9 percent and options with 9.5 percent (Graph 3).
Direct trades accounted for 66.7 percent of all interbank foreign exchange transactions, and the remaining 33.3 percent was through money brokers (Graph 4).
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by authorized foreign exchange banks. The turnovers of interest rate swaps and interest rate options were US8,752 million and US$2,315 million, respectively (Table 2).
Tables & Graphs [ XLS ]