Trading Activity in the Taipei Foreign Exchange Market in June 2009
PRESS RELEASE Release Date: July 22, 2009
Trading Activity in the Taipei Foreign Exchange Market
in June 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$367 billion in June 2009. The average daily turnover was US$16 billion .
Transactions between banks and customers accounted for 26.7 percent of total net turnover, with interbank transactions making up the remaining 73.3 percent .
NT dollar/foreign currency trading accounted for 52.7 percent of total trading volume, of which the share of NTD/USD trades was 50.4 percent .
Spot transactions accounted for the lion’s share with 47.8 percent of total turnover followed by foreign exchange swaps with 37.5 percent and options with 7.2 percent .
Direct trades accounted for 62 percent of all interbank foreign exchange transactions, and the remaining 38 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In June 2009, the turnovers of interest rate swaps and forward rate agreements were US$60.2 billion and US$1 billion, respectively .