Trading Activity in the Taipei Foreign Exchange Market in November 2005
PRESS RELEASE Release Date: December 30, 2005
Trading Activity in the Taipei Foreign Exchange Market
in November 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$254.6 billion in November 2005. The average daily turnover was US$11.6 billion (Table 1).
Transactions between banks and customers accounted for 33.1 percent of total net turnover, with interbank transactions making up the remaining 66.9 percent (Graph 1).
NT dollar/foreign currency trading accounted for 47.4 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 47.5 percent of total turnover followed by foreign exchange swaps with 28.3 percent and options with 12.4 percent (Graph 3).
Direct trades accounted for 67.4 percent of all interbank foreign exchange transactions, and the remaining 32.6 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 US$4,961 million and US$1,107 million, respectively (Table 2).
Tables & Graphs [ XLS ]