Taipei Foreign Exchange Market December 2010
PRESS RELEASE Release Date: January 24, 2011
Taipei Foreign Exchange Market
December 2010
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$436.8 billion in December 2010. The average daily turnover was US$19 billion .
Transactions between banks and customers accounted for 26.2 percent of total net turnover, with interbank transactions making up the remaining 73.8 percent .
NT dollar/foreign currency trading accounted for 51.3 percent of total trading volume, of which the share of NTD/USD trades was 48.7 percent .
Foreign exchange swaps accounted for the lion’s share with 47.8 percent of total turnover followed by spot transactions with 39 percent and options with 7.3 percent .
Direct trades accounted for 71.1 percent of all interbank foreign exchange transactions, and the remaining 28.9 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In December 2010, the turnovers of interest rate swaps and commodity price swaps＆options were US$2.3 billion and US$1.6 billion, respectively .