Taipei Foreign Exchange Market January 2011
PRESS RELEASE Release Date: February 22, 2011
Taipei Foreign Exchange Market
January 2011
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$483.5 billion in January 2011. The average daily turnover was US$23 billion .
Transactions between banks and customers accounted for 23.8 percent of total net turnover, with interbank transactions making up the remaining 76.2 percent .
NT dollar/foreign currency trading accounted for 46.6 percent of total trading volume, of which the share of NTD/USD trades was 44.6 percent .
Spot transactions accounted for the lion’s share with 43.4 percent of total turnover followed by foreign exchange swaps with 42.5 percent and options with 8.3 percent .
Direct trades accounted for 76.7 percent of all interbank foreign exchange transactions, and the remaining 23.3 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In January 2011, the turnovers of interest rate swaps and commodity price swaps＆options were US$8.6 billion and US$1.9 billion, respectively .