Trading Activity in the Taipei Foreign Exchange Market in April 2009
PRESS RELEASE Release Date: June 1, 2009
Trading Activity in the Taipei Foreign Exchange Market
in April 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$326.2 billion in April 2009. The average daily turnover was US$14.8 billion .
Transactions between banks and customers accounted for 25.1 percent of total net turnover, with interbank transactions making up the remaining 74.9 percent .
NT dollar/foreign currency trading accounted for 50.6 percent of total trading volume, of which the share of NTD/USD trades was 48.4 percent .
Spot transactions accounted for the lion’s share with 48.0 percent of total turnover followed by foreign exchange swaps with 36.8 percent and outright forwards with 7.8 percent .
Direct trades accounted for 57.1 percent of all interbank foreign exchange transactions, and the remaining 42.9 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In April 2009, the turnovers of interest rate swaps and forward rate agreements were US$46.8 billion and US$0.6 billion, respectively .