Central Bank of China

PRESS RELEASE Release Date: Oct.1, 2004



Trading Activity in the Taipei Foreign Exchange Market in Aug. 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$177.3 billion in August 2004. The average daily turnover was US$8.86 billion (Table 1).

Transactions between banks and customers accounted for 32.6 percent of total net turnover, with interbank transactions making up the remaining 67.4 percent (Graph 1).

NT dollar/foreign currency trading accounted for 46.9 percent of total trading volume, of which the share of NTD/USD trades was 44.4 percent (Graph 2).

Spot transactions accounted for the lion’s share with 48.1 percent of total turnover followed by options with 12.0 percent and foreign exchange swaps with 28.2 percent (Graph 3).

Direct trades accounted for 72.3 percent of all interbank foreign exchange transactions, and the remaining 27.7 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 US3,921 million and US$1,692 million, respectively (Table 2).

Graph & Table[EXCEL][PDF]