Taipei Foreign Exchange Market April 2014
PRESS RELEASE Release Date: May 22, 2014
Taipei Foreign Exchange Market
April 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$634.2 billion in April 2014. The average daily turnover was US$30.2 billion .
Transactions between banks and customers accounted for 24.7 percent of total net turnover, with interbank transactions making up the remaining 75.3 percent .
NT dollar/foreign currency trading accounted for 43.6 percent of total trading volume, of which the share of NTD/USD trades was 42 percent .
Foreign exchange swaps accounted for the lion’s share with 49.2 percent of total turnover followed by spot transactions with 33.1 percent and options with 11.3 percent .
Direct trades accounted for 76.9 percent of all interbank foreign exchange transactions and the remaining 23.1 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivative products were also offered by banks. In April 2014, the turnovers of interest rate swaps and commodity price swaps ＆ options were US$4.5 billion and US$0.3 billion, respectively .