Trading Activity in the Taipei Foreign Exchange Market in July 2009
PRESS RELEASE Release Date: August 24, 2009
Trading Activity in the Taipei Foreign Exchange Market
in July 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$350.5 billion in July 2009. The average daily turnover was US$15.2 billion .
Transactions between banks and customers accounted for 26.0 percent of total net turnover, with interbank transactions making up the remaining 74.0 percent .
NT dollar/foreign currency trading accounted for 51.5 percent of total trading volume, of which the share of NTD/USD trades was 49.1 percent .
Spot transactions accounted for the lion’s share with 44.2 percent of total turnover followed by foreign exchange swaps with 38.8 percent and options with 8.3 percent .
Direct trades accounted for 67.7 percent of all interbank foreign exchange transactions, and the remaining 32.3 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In July 2009, the turnovers of interest rate swaps and interest rate options were US$59.5 billion and US$0.3 billion, respectively .