Trading Activity in the Taipei Foreign Exchange Market in January 2005
PRESS RELEASE Release Date: March 10, 2005
Trading Activity in the Taipei Foreign Exchange Market
in January 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$234.4 billion in January 2005. The average daily turnover was US$11.16 billion (Table 1).
Transactions between banks and customers accounted for 31.0 percent of total net turnover, with interbank transactions making up the remaining 69.0 percent (Graph 1).
NT dollar/foreign currency trading accounted for 46.0 percent of total trading volume, of which the share of NTD/USD trades was 43.4 percent (Graph 2).
Spot transactions accounted for the lion’s share with 53.5 percent of total turnover followed by options with 10.4 percent and foreign exchange swaps with 24.9 percent (Graph 3).
Direct trades accounted for 68.5 percent of all interbank foreign exchange transactions, and the remaining 31.5 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 US5,266 million and US$1,739 million, respectively (Table 2).
Tables & Graphs [ XLS ]