Taipei Foreign Exchange Market November 2012
PRESS RELEASE Release Date: December 24, 2012
Taipei Foreign Exchange Market
November 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$485.9 billion in November 2012. The average daily turnover was US$22.1 billion .
Transactions between banks and customers accounted for 28 percent of total net turnover, with interbank transactions making up the remaining 72 percent .
NT dollar/foreign currency trading accounted for 50.4 percent of total trading volume, of which the share of NTD/USD trades was 48.6 percent .
Foreign exchange swaps accounted for the lion’s share with 45.4 percent of total turnover followed by spot transactions with 37.6 percent and options with 10.8 percent .
Direct trades accounted for 76.1 percent of all interbank foreign exchange transactions, and the remaining 23.9 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In November 2012, the turnovers of interest rate swaps and commodity price swaps ＆ options were US$3.7 billion and US$1 billion, respectively .