Central Bank of China Release Date: May.31, 2004

PRESS RELEASE




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Trading Activity in the Taipei Foreign Exchange Market in Apr. 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$226.3 billion in Apr. 2004. The average daily turnover was US$10.3 billion (Table 1).

Transactions between banks and customers accounted for 33.1 percent of total net turnover, with interbank transactions making up the remaining 66.9 percent (Graph 1).

NT dollar/foreign currency trading accounted for 46.3 percent of total trading volume, of which the share of NT dollars against US dollars was 43.9 percent (Graph 2).

Spot transactions accounted for the lion's share with 50.1 percent of total turnover, followed by options with12.4 percent, foreign exchange swaps with 23.3 percent (Graph 3).

Direct trades accounted for 77.6 percent of all interbank foreign exchange transactions, and the remaining 22.4 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, interest rate options were US$8,179 million and US$17,419.6 million, respectively (Table 2).

Tables & Graphs [EXCEL][PDF]