Taipei Foreign Exchange Market September 2013
PRESS RELEASE Release Date: October 22, 2013
Taipei Foreign Exchange Market
September 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$561.7 billion in September 2013. The average daily turnover was US$28.1 billion .
Transactions between banks and customers accounted for 25.4 percent of total net turnover, with interbank transactions making up the remaining 74.6 percent .
NT dollar/foreign currency trading accounted for 40.2 percent of total trading volume, of which the share of NTD/USD trades was 38.6 percent .
Foreign exchange swaps accounted for the lion’s share with 39.4 percent of total turnover followed by spot transactions with 35.6 percent and options with 18.8 percent .
Direct trades accounted for 77.8 percent of all interbank foreign exchange transactions and the remaining 22.2 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In September 2013, the turnovers of interest rate swaps and commodity price swaps ＆ options were US$2.4 billion and US$0.3 billion, respectively .