Trading Activity in the Taipei Foreign Exchange Market in November 2009
PRESS RELEASE Release Date: December 22, 2009
Trading Activity in the Taipei Foreign Exchange Market
in November 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$394.9 billion in November 2009. The average daily turnover was US$18.8 billion .
Transactions between banks and customers accounted for 24.4 percent of total net turnover, with interbank transactions making up the remaining 75.6 percent .
NT dollar/foreign currency trading accounted for 49 percent of total trading volume, of which the share of NTD/USD trades was 46.8 percent .
Foreign exchange swaps accounted for the lion’s share with 43.3 percent of total turnover followed by spot transactions with 41.3 percent and options with 8.5 percent .
Direct trades accounted for 69.3 percent of all interbank foreign exchange transactions, and the remaining 30.7 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In November 2009, the turnovers of interest rate swaps and interest rate options were US$5.7 billion and US$0.6 billion, respectively .