Trading Activity in the Taipei Foreign Exchange Market in October 2004
Central Bank of China
PRESS RELEASE Release Date: December 1, 2004
Trading Activity in the Taipei Foreign Exchange Market
In October 2004
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$208.2
billion in October 2004. The average daily turnover was US$10.41 billion (Table
1).
Transactions between banks and customers accounted for 31.8 percent of total net
turnover, with interbank transactions making up the remaining 68.2 percent
(Graph 1).
NT dollar/foreign currency trading accounted for 47.5 percent of total trading
volume, of which the share of NTD/USD trades was 45.0 percent (Graph 2).
Spot transactions accounted for the lion¡¦s share with 49.6 percent of total
turnover followed by options with 15.0 percent and foreign exchange swaps with
24.2 percent (Graph 3).
Direct trades accounted for 69.5 percent of all interbank foreign exchange
transactions, and the remaining 30.5 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 US4, 156 million
and US$571 million, respectively (Table 2).
Graph & table[EXCEL][PDF]