Taipei Foreign Exchange Market October 2013
PRESS RELEASE Release Date: November 22, 2013
Taipei Foreign Exchange Market
October 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$606.3 billion in October 2013. The average daily turnover was US$27.6 billion .
Transactions between banks and customers accounted for 24.2 percent of total net turnover, with interbank transactions making up the remaining 75.8 percent .
NT dollar/foreign currency trading accounted for 42.1 percent of total trading volume, of which the share of NTD/USD trades was 40.4 percent .
Foreign exchange swaps accounted for the lion’s share with 42.5 percent of total turnover followed by spot transactions with 35.8 percent and options with 16 percent .
Direct trades accounted for 78.6 percent of all interbank foreign exchange transactions and the remaining 21.4 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In October 2013, the turnovers of interest rate swaps and commodity price swaps ＆ options were US$2.8 billion and US$0.4 billion, respectively .