Trading Activity in the Taipei Foreign Exchange Market in March 2009
PRESS RELEASE Release Date: April 30, 2009
Trading Activity in the Taipei Foreign Exchange Market
in March 2009
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$324.7 billion in March 2009. The average daily turnover was US$14.8 billion .
Transactions between banks and customers accounted for 24.6 percent of total net turnover, with interbank transactions making up the remaining 75.4 percent .
NT dollar/foreign currency trading accounted for 48.6 percent of total trading volume, of which the share of NTD/USD trades was 46.2 percent .
Spot transactions accounted for the lion’s share with 50.1 percent of total turnover followed by foreign exchange swaps with 34.3 percent and outright forwards with 7.6 percent .
Direct trades accounted for 58.9 percent of all interbank foreign exchange transactions, and the remaining 41.1 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In March 2009, the turnovers of interest rate swaps and forward rate agreements were US$51.3 billion and US$0.7 billion, respectively .