Taipei Foreign Exchange Market June 2013
PRESS RELEASE Release Date: July 22, 2013
Taipei Foreign Exchange Market
June 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$599.1 billion in June 2013. The average daily turnover was US$31.5 billion .
Transactions between banks and customers accounted for 24.6 percent of total net turnover, with interbank transactions making up the remaining 75.4 percent .
NT dollar/foreign currency trading accounted for 41.4 percent of total trading volume, of which the share of NTD/USD trades was 39.5 percent .
Foreign exchange swaps accounted for the lion’s share with 40.9 percent of total turnover followed by spot transactions with 39.8 percent and options with 12.9 percent .
Direct trades accounted for 79.3 percent of all interbank foreign exchange transactions and the remaining 20.7 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In June 2013, the turnovers of interest rate swaps and commodity price swaps ＆ options were US$3.5 billion and US$0.5 billion, respectively .