Trading Activity in the Taipei Foreign Exchange Market in February 2006
PRESS RELEASE Release Date: March 31, 2006
Trading Activity in the Taipei Foreign Exchange Market
in February 2006
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$249.4 billion in February 2006. The average daily turnover was US$14.7 billion (Table 1).
Transactions between banks and customers accounted for 33.5 percent of total net turnover, with interbank transactions making up the remaining 66.5 percent (Graph 1).
NT dollar/foreign currency trading accounted for 49.5 percent of total trading volume, of which the share of NTD/USD trades was 46.9 percent (Graph 2).
Spot transactions accounted for the lion’s share with 50.4 percent of total turnover followed by foreign exchange swaps with 27.2 percent and outright forwards with 11.4 percent (Graph 3).
Direct trades accounted for 69.9 percent of all interbank foreign exchange transactions, and the remaining 30.1 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$5,415 million and US$1,434 million, respectively (Table 2).
Tables & Graphs [ XLS ]