Taipei Foreign Exchange Market February 2014
PRESS RELEASE Release Date: March 24, 2014
Taipei Foreign Exchange Market
February 2014
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$625.6 billion in February 2014. The average daily turnover was US$36.8 billion .
Transactions between banks and customers accounted for 23.5 percent of total net turnover, with interbank transactions making up the remaining 76.5 percent .
NT dollar/foreign currency trading accounted for 37.7 percent of total trading volume, of which the share of NTD/USD trades was 36.1 percent .
Foreign exchange swaps accounted for the lion’s share with 40.3 percent of total turnover followed by spot transactions with 31.7 percent and options with 22.1 percent .
Direct trades accounted for 75.3 percent of all interbank foreign exchange transactions and the remaining 24.7 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In February 2014, the turnovers of interest rate swaps and commodity price swaps ＆ options were US$1.4 billion and US$0.4 billion, respectively .