Taipei Foreign Exchange Market September 2012
PRESS RELEASE Release Date: October 22, 2012
Taipei Foreign Exchange Market
September 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$490.6 billion in September 2012. The average daily turnover was US$24.5 billion .
Transactions between banks and customers accounted for 28.9 percent of total net turnover, with interbank transactions making up the remaining 71.1 percent .
NT dollar/foreign currency trading accounted for 49 percent of total trading volume, of which the share of NTD/USD trades was 47.3 percent .
Foreign exchange swaps accounted for the lion’s share with 43.5 percent of total turnover followed by spot transactions with 38.8 percent and options with 10.9 percent .
Direct trades accounted for 77.3 percent of all interbank foreign exchange transactions, and the remaining 22.7 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In September 2012, the turnovers of interest rate swaps and commodity price swaps ＆ options were US$4.9 billion and US$1.1 billion, respectively .