Taipei Foreign Exchange Market December 2013
PRESS RELEASE Release Date: January 22, 2014
Taipei Foreign Exchange Market
December 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$543.8 billion in December 2013. The average daily turnover was US$24.7 billion .
Transactions between banks and customers accounted for 29.1 percent of total net turnover, with interbank transactions making up the remaining 70.9 percent .
NT dollar/foreign currency trading accounted for 49.9 percent of total trading volume, of which the share of NTD/USD trades was 47.5 percent .
Foreign exchange swaps accounted for the lion’s share with 47.8 percent of total turnover followed by spot transactions with 37.1 percent and options with 9.6 percent .
Direct trades accounted for 74.8 percent of all interbank foreign exchange transactions and the remaining 25.2 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In December 2013, the turnovers of interest rate swaps and forward rate agreements were US$1.3 billion and US$0.5 billion, respectively .