Trading Activity in the Taipei Foreign Exchange Market in Oct. 2003
Central Bank of China
PRESS RELEASE Release Date: Dec. 1, 2003
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Trading Activity in the Taipei Foreign Exchange Market in Oct. 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$208.8
billion in Oct. 2003. The average daily turnover was US$9.5 billion (Table 1).
Transactions between banks and customers accounted for 30.6 percent of total net
turnover, with interbank transactions making up the remaining 69.4 percent
(Graph 1).
NT dollar/foreign currency trading accounted for 50.7 percent of total trading
volume, of which the share of NT dollars against US dollars was 48.0 percent
(Graph 2).
Spot transactions accounted for the lion's share with 52.8 percent of total
turnover, followed by foreign exchange swaps with 24.3 percent, options with
11.5 percent (Graph 3).
Direct trades accounted for 73.2 percent of all interbank foreign exchange
transactions, and the remaining 26.8 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$3,352.4
million and US$1,475 million, respectively (Table 2).
Graph & Table[EXCEL][PDF]