Trading in the Taipei Foreign Exchange Market in May 2003
Central Bank of China
PRESS RELEASE Release Date: June 30, 2003
Trading in the Taipei Foreign Exchange Market in May 2003
The trading in the Taipei foreign exchange market covers all foreign exchange
transactions made by authorized foreign exchange banks and offshore banking
units. After deducting double counting of interbank transactions, total net
trading volume in the market amounted to US$146.5 billion in May 2003. The
average daily turnover was US$7.0 billion (Table 1).
In terms of trading partners, transactions between banks and customers accounted
for 32.7 percent of total net turnover, with interbank transactions making up
the remaining 67.3 percent (Graph 1).
In terms of traded currencies, NT dollar against foreign currencies trading
accounted for 41.9 percent of total trading volume, of which the share of NT
dollars against US dollars was 38.8 percent (Graph 2).
With respect to types of transactions, spot transactions accounted for the
lion's share with 56.5 percent of total turnover, followed by foreign exchange
swaps with 19.1 percent, Options with 13.8 percent (Graph 3).
In terms of the way transactions were done, the direct trade accounted for 75.2
percent of the interbank foreign exchange transactions, through money brokers
for the remaining 24.8 percent (Graph 4).
In addition to the above-mentioned foreign exchange transactions, there are some
other derivatives offered by the authorized foreign exchange banks. The turnover
of interest rate swaps, Forward Rate Agreements were US$3,507.5 million and
US$1,631.1 million, respectively (Table 2).
Graph&Table[EXCEL][PDF]