Taipei Foreign Exchange Market July 2011
PRESS RELEASE Release Date: August 22, 2011
Taipei Foreign Exchange Market
July 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$514 billion in July 2011. The average daily turnover was US$24.5 billion .
Transactions between banks and customers accounted for 26.8 percent of total net turnover, with interbank transactions making up the remaining 73.2 percent .
NT dollar/foreign currency trading accounted for 40.3 percent of total trading volume, of which the share of NTD/USD trades was 38.1 percent .
Spot transactions accounted for the lion’s share with 45.1 percent of total turnover followed by foreign exchange swaps with 37.1 percent and options with 10.2 percent .
Direct trades accounted for 78.7 percent of all interbank foreign exchange transactions, and the remaining 21.3 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In July 2011, the turnovers of interest rate swaps and commodity price swaps＆options were US$8.2 billion and US$1.8 billion, respectively .