Taipei Foreign Exchange Market January 2013
PRESS RELEASE Release Date: March 6, 2013
Taipei Foreign Exchange Market
January 2013
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$645.7 billion in January 2013. The average daily turnover was US$29.4 billion .
Transactions between banks and customers accounted for 25 percent of total net turnover, with interbank transactions making up the remaining 75 percent .
NT dollar/foreign currency trading accounted for 44.2 percent of total trading volume, of which the share of NTD/USD trades was 42.4 percent .
Spot transactions accounted for the lion’s share with 39.4 percent of total turnover followed by foreign exchange swaps with 39 percent and options with 15.7 percent .
Direct trades accounted for 80.9 percent of all interbank foreign exchange transactions and the remaining 19.1 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In January 2013, the turnovers of interest rate swaps and stock price index options were US$5.8 billion and US$0.7 billion, respectively .