Trading Activity in the Taipei Foreign Exchange Market in March 2006
PRESS RELEASE Release Date: May 2, 2006
Trading Activity in the Taipei Foreign Exchange Market
in March 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$327.4 billion in March 2006. The average daily turnover was US$14.2 billion (Table 1).
Transactions between banks and customers accounted for 34.7 percent of total net turnover, with interbank transactions making up the remaining 65.3 percent (Graph 1).
NT dollar/foreign currency trading accounted for 46.9 percent of total trading volume, of which the share of NTD/USD trades was 44.1 percent (Graph 2).
Spot transactions accounted for the lion’s share with 50.7 percent of total turnover followed by foreign exchange swaps with 27.9 percent and options with 9.7 percent (Graph 3).
Direct trades accounted for 66.5 percent of all interbank foreign exchange transactions, and the remaining 33.5 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$11,175.2 million and US$999.7 million, respectively (Table 2).
Tables & Graphs [ XLS ]