Taipei Foreign Exchange Market September 2011
PRESS RELEASE Release Date: October 24, 2011
Taipei Foreign Exchange Market
September 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$561.3 billion in September 2011. The average daily turnover was US$26.7 billion .
Transactions between banks and customers accounted for 23.9 percent of total net turnover, with interbank transactions making up the remaining 76.1 percent .
NT dollar/foreign currency trading accounted for 45 percent of total trading volume, of which the share of NTD/USD trades was 43.3 percent .
Foreign exchange swaps accounted for the lion’s share with 41.4 percent of total turnover followed by spot transactions with 39.7 percent and options with 9.7 percent .
Direct trades accounted for 75.8 percent of all interbank foreign exchange transactions, and the remaining 24.2 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In September 2011, the turnovers of commodity price swaps＆options and interest rate swaps were US$2.02 billion and US$1.98 billion, respectively .