Trading Activity in the Taipei Foreign Exchange Market in January 2007
PRESS RELEASE Release Date: March 12, 2007
Trading Activity in the Taipei Foreign Exchange Market
in January 2007
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$408.6 billion in January 2007. The average daily turnover was US$18.6 billion (Table 1).
Transactions between banks and customers accounted for 32.1 percent of total net turnover, with interbank transactions making up the remaining 67.9 percent (Graph 1).
NT dollar/foreign currency trading accounted for 38.0 percent of total trading volume, of which the share of NTD/USD trades was 35.8 percent (Graph 2).
Spot transactions accounted for the lion’s share with 53.2 percent of total turnover followed by foreign exchange swaps with 27.3 percent and outright forwards with 11.6 percent (Graph 3).
Direct trades accounted for 70.4 percent of all interbank foreign exchange transactions, and the remaining 29.6 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$7,257.9 million and US$665 million, respectively (Table 2).
Tables & Graphs [ XLS ]