Trading Activity in the Taipei Foreign Exchange Market in June 2005
PRESS RELEASE Release Date: August 1, 2005
Trading Activity in the Taipei Foreign Exchange Market
in June 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$256.8 billion in June 2005. The average daily turnover was US$11.7 billion (Table 1).
Transactions between banks and customers accounted for 31.3 percent of total net turnover, with interbank transactions making up the remaining 68.7 percent (Graph 1).
NT dollar/foreign currency trading accounted for 50.8 percent of total trading volume, of which the share of NTD/USD trades was 48.1 percent (Graph 2).
Spot transactions accounted for the lion’s share with 53.4 percent of total turnover followed by foreign exchange swaps with 27.9 percent and outright forwards with 9.3 percent (Graph 3).
Direct trades accounted for 65.8 percent of all interbank foreign exchange transactions, and the remaining 34.2 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 US8,738 million and US$3,712 million, respectively (Table 2).
Tables & Graphs [ XLS ]