Taipei Foreign Exchange Market October 2011
PRESS RELEASE Release Date: November 22, 2011
Taipei Foreign Exchange Market
October 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$519.9 billion in October 2011. The average daily turnover was US$26 billion .
Transactions between banks and customers accounted for 23 percent of total net turnover, with interbank transactions making up the remaining 77 percent .
NT dollar/foreign currency trading accounted for 43.6 percent of total trading volume, of which the share of NTD/USD trades was 41.7 percent .
Foreign exchange swaps accounted for the lion’s share with 43.3 percent of total turnover followed by spot transactions with 37.7 percent and outright forwards with 10.1 percent .
Direct trades accounted for 79.6 percent of all interbank foreign exchange transactions, and the remaining 20.4 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In October 2011, the turnovers of commodity price swaps＆options and interest rate swaps were US$3.1 billion and US$2.6 billion, respectively .