Taipei Foreign Exchange Market August 2011
PRESS RELEASE Release Date: September 22, 2011
Taipei Foreign Exchange Market
August 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$633.6 billion in August 2011. The average daily turnover was US$27.6 billion .
Transactions between banks and customers accounted for 27.3 percent of total net turnover, with interbank transactions making up the remaining 72.7 percent .
NT dollar/foreign currency trading accounted for 41 percent of total trading volume, of which the share of NTD/USD trades was 39.2 percent .
Spot transactions accounted for the lion’s share with 45.2 percent of total turnover followed by foreign exchange swaps with 37.2 percent and options with 9.2 percent .
Direct trades accounted for 78.1 percent of all interbank foreign exchange transactions, and the remaining 21.9 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In August 2011, the turnovers of interest rate swaps and commodity price swaps＆options were US$7.2 billion and US$2.7 billion, respectively .