Trading Activity in the Taipei Foreign Exchange Market in February 2005
PRESS RELEASE Release Date: March 30, 2005
Trading Activity in the Taipei Foreign Exchange Market
in February 2005
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$177.0 billion in February 2005. The average daily turnover was US$11.8 billion (Table 1).
Transactions between banks and customers accounted for 32.0 percent of total net turnover, with interbank transactions making up the remaining 68.0 percent (Graph 1).
NT dollar/foreign currency trading accounted for 49.8 percent of total trading volume, of which the share of NTD/USD trades was 47.0 percent (Graph 2).
Spot transactions accounted for the lion’s share with 54.1 percent of total turnover followed by options with 8.4 percent and foreign exchange swaps with 24.7 percent (Graph 3).
Direct trades accounted for 68.0 percent of all interbank foreign exchange transactions, and the remaining 32.0 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 US2,153 million and US$902 million, respectively (Table 2).
Tables & Graphs [ XLS ]