Taipei Foreign Exchange Market February 2012
PRESS RELEASE Release Date: March 22, 2012
Taipei Foreign Exchange Market
February 2012
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$492.9 billion in February 2012. The average daily turnover was US$24.6 billion .
Transactions between banks and customers accounted for 26.9 percent of total net turnover, with interbank transactions making up the remaining 73.1 percent .
NT dollar/foreign currency trading accounted for 48.1 percent of total trading volume, of which the share of NTD/USD trades was 46.3 percent .
Foreign exchange swaps accounted for the lion’s share with 42.7 percent of total turnover followed by spot transactions with 40.2 percent and options with 8.8 percent .
Direct trades accounted for 76.2 percent of all interbank foreign exchange transactions, and the remaining 23.8 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In February 2012, the turnovers of interest rate swaps and commodity price swaps ＆ options were US$3.3 billion and US$2.3 billion, respectively .