Trading Activity in the Taipei Foreign Exchange Market in July 2005
PRESS RELEASE Release Date: August 31, 2005
Trading Activity in the Taipei Foreign Exchange Market
in July 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$258.7 billion in July 2005. The average daily turnover was US$12.9 billion (Table 1).
Transactions between banks and customers accounted for 30.6 percent of total net turnover, with interbank transactions making up the remaining 69.4 percent (Graph 1).
NT dollar/foreign currency trading accounted for 48.3 percent of total trading volume, of which the share of NTD/USD trades was 45.9 percent (Graph 2).
Spot transactions accounted for the lion’s share with 52.5 percent of total turnover followed by foreign exchange swaps with 28.1 percent and outright forwards with 9.1 percent (Graph 3).
Direct trades accounted for 68.2 percent of all interbank foreign exchange transactions, and the remaining 31.8 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 US6,630 million and US$1,011 million, respectively (Table 2).
Tables & Graphs [ XLS ]