Trading Activity in the Taipei Foreign Exchange Market
PRESS RELEASE Release Date: July 3, 2006
Trading Activity in the Taipei Foreign Exchange Market
in May 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$337.9 billion in May 2006. The average daily turnover was US$16.1 billion (Table 1).
Transactions between banks and customers accounted for 31.7 percent of total net turnover, with interbank transactions making up the remaining 68.3 percent (Graph 1).
NT dollar/foreign currency trading accounted for 45.6 percent of total trading volume, of which the share of NTD/USD trades was 43.1 percent (Graph 2).
Spot transactions accounted for the lion’s share with 52.9 percent of total turnover followed by foreign exchange swaps with 24.5 percent and options with 10.6 percent (Graph 3).
Direct trades accounted for 65.2 percent of all interbank foreign exchange transactions, and the remaining 34.8 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$4,398.9 million and US$674.9 million, respectively (Table 2).
Tables & Graphs [ XLS ]