Trading Activity in the Taipei Foreign Exchange Market in December 2005
PRESS RELEASE Release Date: February 6, 2006
Trading Activity in the Taipei Foreign Exchange Market
in December 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$314.9 billion in December 2005. The average daily turnover was US$14.3 billion (Table 1).
Transactions between banks and customers accounted for 37.9 percent of total net turnover, with interbank transactions making up the remaining 62.1 percent (Graph 1).
NT dollar/foreign currency trading accounted for 46.2 percent of total trading volume, of which the share of NTD/USD trades was 43.3 percent (Graph 2).
Spot transactions accounted for the lion’s share with 48.6 percent of total turnover followed by foreign exchange swaps with 25.7 percent and options with 13.2 percent (Graph 3).
Direct trades accounted for 67.8 percent of all interbank foreign exchange transactions, and the remaining 32.2 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$4,498 million and US$1,085 million, respectively (Table 2).
Tables & Graphs [ XLS ]