Central Bank of China

PRESS RELEASE Release Date: Oct. 31, 2003




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Trading Activity in the Taipei Foreign Exchange Market in Sep. 2003

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$196.4 billion in Sep. 2003. The average daily turnover was US$9.4 billion (Table 1).

Transactions between banks and customers accounted for 30.9 percent of total net turnover, with interbank transactions making up the remaining 69.1 percent (Graph 1).

NT dollar/foreign currency trading accounted for 48.5 percent of total trading volume, of which the share of NT dollars against US dollars was 46.4 percent (Graph 2).

Spot transactions accounted for the lion's share with 54.9 percent of total turnover, followed by foreign exchange swaps with 19.8 percent, Options with 12.7 percent (Graph 3).

Direct trades accounted for 74 percent of all interbank foreign exchange transactions, and the remaining 26 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, forward rate agreements were US$3,927 million and US$2,765 million, respectively (Table 2).

Tables & Graphs[EXCEL][PDF]