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Foreign Exchange Turnover Report – October 2008

List of tables

Table 1: Foreign Exchange Turnover by Instrument

Table 2: Foreign Exchange Turnover by Instrument and Counterparty

Table 3: Foreign Exchange Turnover by Currency

Table 4: Foreign Exchange Turnover by Currency Pair

Table 5: Maturities by Instrument and Currency

Table 6a: AUD Turnover by Instrument, Counterparty and Currency

Table 6b: USD Turnover by Instrument, Counterparty and Currency

Table 6c: EUR Turnover by Instrument, Counterparty and Currency

Table 1: Foreign Exchange Turnover by Instrumenta,b
Daily average (US$m)
Oct 2008
Apr 2008
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
58,314
56,330
1,984
4
Outright Forwards
8,424
9,227
-803
-9
FX Swaps
74,452
91,918
-17,466
-19
TRADITIONAL FOREIGN EXCHANGE TURNOVERb
141,190
157,474
-16,284
-10
Currency Swaps
2,010
3,336
-1,326
-40
OTC Options
1,977
2,187
-210
-10
TOTAL TURNOVER
145,177
162,997
-17,820
-11
a Adjusted for reporting dealer double counting. Daily average for October 2008 calculated on 22 trading days (April 2008 calculated on 21 trading days).
b Totals and sub-totals may not sum due to rounding.

 

Table 2: Foreign Exchange Turnover by Instrument and Counterpartya,b
Daily average (US$m)
 
Oct 2008
Apr 2008
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
58,314
56,330
1,984
4
Financial Institutions - Local
8,722
7,975
747
9
Financial Institutions - Overseas
40,994
40,538
456
1
Non-financial Institutions - Local
4,572
4,525
47
1
Non-financial Institutions - Overseas
4,026
3,292
733
22
Outright Forwards
8,424
9,227
-803
-9
Financial Institutions - Local
2,784
2,364
420
18
Financial Institutions - Overseas
4,124
5,765
-1,640
-28
Non-financial Institutions - Local
1,340
964
376
39
Non-financial Institutions - Overseas
175
134
41
31
FX Swaps
74,452
91,918
-17,466
-19
Financial Institutions - Local
28,532
30,046
-1,515
-5
Financial Institutions - Overseas
43,388
59,091
-15,703
-27
Non-financial Institutions - Local
1,163
1,532
-369
-24
Non-financial Institutions - Overseas
1,368
1,248
120
10
Currency Swapsc
2,010
3,336
-1,326
-40
Financial Institutions - Local
734
674
61
9
Financial Institutions - Overseas
1,207
2,527
-1,320
-52
Non-financial Institutions - Local
34
62
-28
-45
Non-financial Institutions - Overseas
35
74
-38
-52
OTC Options
1,977
2,187
-210
-10
Financial Institutions - Local
264
360
-97
-27
Financial Institutions - Overseas
1,304
1,495
-191
-13
Non-financial Institutions - Local
329
98
231
236
Non-financial Institutions - Overseas
79
233
-153
-66
a Adjusted for reporting dealer double counting. Daily average for October 2008 calculated on 22 trading days (April 2008 calculated on 21 trading days).
b Sub-totals may not sum due to rounding.
c Data on currency swaps are available from April 2007.

 

Table 3: Foreign Exchange Turnover by Currencya
Daily average (US$m)
 
Oct 2008
US$m
Proportion of Totalb
%
Apr 2008
US$m
Proportion of Totalb
%
AUD
66,715
46
72,089
44
USD
123,610
85
145,189
89
EUR
28,755
20
36,660
22
OTHER CURRENCIES
71,274
49
72,057
44
TOTAL
145,177
162,997
a Adjusted for reporting dealer double counting. Daily average for October 2008 calculated on 22 trading days (April 2008 calculated on 21 trading days).
b Proportions sum to 200% as there are two currencies involved in each transaction.

Table 4: Foreign Exchange Turnover by Currency Paira,b
Daily average (US$m)
 
Oct 2008
US$m
Proportion of Total
%
Apr 2008
US$m
Proportion of Total
%
AUD/USD
54,531
38
62,019
38
AUD/EUR
2,349
2
2,869
2
AUD/JPY
2,704
2
2,898
2
AUD/GBP
1,167
1
1,496
1
AUD/CHF
86
0
287
0
AUD/CAD
256
0
300
0
AUD/NZD
1,430
1
1,468
1
AUD/SEK
38
0
101
0
AUD/OTHER ASIAN
304
0
364
0
AUD/OTHER EUROPEAN
44
0
73
0
AUD/OTHER
3,806
3
215
0
EUR/USD
20,427
14
29,319
18
USD/JPY
15,330
11
15,574
10
USD/GBP
8,100
6
9,168
6
USD/CHF
1,139
1
2,677
2
USD/CAD
3,095
2
3,469
2
USD/NZD
15,446
11
16,524
10
USD/SEK
244
0
542
0
USD/OTHER ASIAN
3,403
2
3,885
2
USD/OTHER EUROPEAN
417
0
402
0
USD/OTHER
1,478
1
1,610
1
EUR/JPY
3,021
2
1,829
1
EUR/GBP
941
1
946
1
EUR/CHF
509
0
380
0
EUR/CAD
192
0
136
0
EUR/NZD
227
0
240
0
EUR/SEK
99
0
123
0
EUR/OTHER ASIAN
44
0
90
0
EUR/OTHER EUROPEAN
175
0
135
0
EUR/OTHER
771
1
593
0
RESIDUAL CURRENCIES
3,404
2
3,266
2
TOTALc
145,177
162,997
a Adjusted for reporting dealer double counting. Daily average for October 2008 calculated on 22 trading days (April 2008 calculated on 21 trading days).
b The range of currency pairs was expanded in April 2007.
c Totals may not sum due to rounding.

Table 5: Maturities by Instrument and Currencya,b
Daily average (US$m)
 
Seven days or less
US$m
Seven days to 1 year
US$m
Over 1 year
US$m
Outright Forwards
4,021
4,427
334
Against AUD
1,934
3,102
271
Against USDc
1,793
1,255
49
Against EURc
178
48
11
OTHER CURRENCIES
116
22
3
FX Swaps
75,812
12,661
7,258
Against AUD
36,864
7,541
4,674
Against USDc
37,917
4,925
2,579
Against EURc
153
96
2
OTHER CURRENCIES
878
100
3
Currency Swaps
748
363
1,014
Against AUD
411
268
830
Against USDc
338
95
171
Against EURc
0
0
13
OTHER CURRENCIES
0
0
0
OTC Optionsb
423
1,628
112
Against AUD
235
1,183
66
Against USDc
179
401
45
Against EURc
8
33
2
OTHER CURRENCIES
1
11
0
a Daily average for October 2008 calculated on 22 trading days (April 2008 calculated on 21 trading days).
b Totals may not sum due to rounding.
c 'Against USD' excludes AUD/USD turnover; 'Against EUR' excludes AUD/EUR and EUR/USD turnover.

 

Table 6a: AUD Turnover by Instrument, Counterparty and Currencya,b
Daily average (US$m)
 
AUD Against
USD
EUR
JPY
GBP
CHF
CAD
NZD
SEK
Other ASIAN
Other EUROPE
OTHER
TOTAL 
Outright Spot
14,755
1,342
1,785
793
50
177
1,070
22
180
24
711
20,911
Financial Institutions - Local
3,948
196
528
133
5
25
293
0
15
1
110
5,255
Financial Institutions - Overseas
7,370
461
930
344
7
91
607
7
93
1
535
10,488
Non-financial Institutions - Local
2,949
672
174
312
38
60
145
15
71
21
60
4,517
Non-financial Institutions - Overseas
488
14
153
3
0
1
26
0
0
0
6
692
Outright Forwards
3,574
432
205
165
18
45
150
14
70
11
394
5,079
Financial Institutions - Local
1,303
247
79
120
11
20
41
11
41
5
280
2,157
Financial Institutions - Overseas
1,224
43
92
14
4
13
48
1
14
1
83
1,538
Non-financial Institutions - Local
1,013
83
32
32
3
12
53
2
15
5
30
1,280
Non-financial Institutions - Overseas
35
58
2
0
0
0
8
0
0
0
2
104
FX Swaps
33,707
467
618
203
17
30
122
2
53
10
2,696
37,924
Financial Institutions - Local
14,766
268
382
120
6
16
42
1
45
2
1,013
16,661
Financial Institutions - Overseas
17,560
111
193
58
1
1
43
0
4
0
1,638
19,608
Non-financial Institutions - Local
894
74
12
24
10
13
37
0
3
7
36
1,112
Non-financial Institutions - Overseas
487
14
30
0
0
0
1
0
1
0
10
544
Currency Swaps
1,335
29
57
0
0
0
1
0
0
0
0
1,422
Financial Institutions - Local
692
9
1
0
0
0
0
0
0
0
0
702
Financial Institutions - Overseas
609
20
22
0
0
0
1
0
0
0
0
651
Non-financial Institutions - Local
31
0
3
0
0
0
0
0
0
0
0
34
Non-financial Institutions - Overseas
4
0
32
0
0
0
0
0
0
0
0
35
OTC Options
1,159
79
39
6
0
4
87
0
1
0
4
1,379
Financial Institutions - Local
126
16
2
0
0
0
24
0
0
0
0
168
Financial Institutions - Overseas
684
57
26
4
0
4
59
0
0
0
3
838
Non-financial Institutions - Local
308
5
6
1
0
0
1
0
0
0
1
323
Non-financial Institutions - Overseas
41
1
5
0
0
0
2
0
0
0
0
49
Total AUD Turnover
54,531
2,349
2,704
1,167
86
256
1,430
38
304
44
3,806
66,715
a Adjusted for reporting dealer double counting. Daily average for October 2008 calculated on 22 trading days (April 2008 calculated on 21 trading days).
b Totals and sub-totals may not sum due to rounding.

Table 6b: USD Turnover by Instrument, Counterparty and Currencya,b,c
Daily average (US$m)
 
USD Against
 
EUR
JPY
GBP
CHF
CAD
NZD
SEK
Other
ASIAN
Other EUROPE
OTHER 
TOTAL
Outright Spot
11,645
8,040
3,463
493
1,188
2,493
36
821
157
978
29,314
Financial Institutions - Local
917
415
264
59
122
575
7
147
10
47
2,565
Financial Institutions - Overseas
9,981
6,525
3,016
424
1,002
1,827
24
650
141
747
24,337
Non-financial Institutions - Local
21
5
6
0
2
4
0
7
0
1
47
Non-financial Institutions - Overseas
727
1,095
178
10
62
86
4
16
6
182
2,366
Outright Forwards
884
584
284
81
108
469
15
398
87
73
2,982
Financial Institutions - Local
140
154
93
12
25
65
3
84
6
18
598
Financial Institutions - Overseas
710
415
176
67
79
377
12
304
79
48
2,268
Non-financial Institutions - Local
10
7
2
1
2
12
0
9
2
4
50
Non-financial Institutions - Overseas
23
8
13
0
3
14
0
1
0
3
65
FX Swaps
7,737
6,532
4,285
548
1,775
11,827
194
2,155
173
423
35,648
Financial Institutions - Local
2,850
1,356
1,584
269
818
3,234
90
1,117
48
105
11,471
Financial Institutions - Overseas
4,814
5,073
2,691
279
955
8,082
103
972
119
311
23,399
Non-financial Institutions - Local
21
2
5
0
1
16
0
3
0
1
50
Non-financial Institutions - Overseas
52
102
4
0
0
495
0
62
6
7
729
Currency Swaps
23
22
33
0
0
492
0
5
0
0
575
Financial Institutions - Local
15
9
1
0
0
6
0
0
0
0
32
Financial Institutions - Overseas
8
13
32
0
0
486
0
5
0
0
543
Non-financial Institutions - Local
0
0
0
0
0
0
0
0
0
0
0
Non-financial Institutions - Overseas
0
0
0
0
0
0
0
0
0
0
0
OTC Options
138
151
35
18
25
165
0
24
0
4
560
Financial Institutions - Local
17
16
9
2
19
12
0
0
0
1
76
Financial Institutions - Overseas
115
131
26
13
5
133
0
23
0
2
449
Non-financial Institutions - Local
1
2
0
2
0
0
0
0
0
0
6
Non-financial Institutions - Overseas
5
2
1
0
0
20
0
0
0
1
29
Total USD Turnoverc
20,427
15,330
8,100
1,139
3,095
15,446
244
3,403
417
1,478
69,079
a Adjusted for reporting dealer double counting. Daily average for October 2008 calculated on 22 trading days (April 2008 calculated on 21 trading days).
b Totals and sub-totals may not sum due to rounding.
c USD turnover excludes AUD/USD turnover.

Table 6c: EUR Turnover by Instrument, Counterparty and Currencya,b,c
Daily average (US$m)
 
EUR Against
  
  JPY GBP CHF CAD NZD SEK Other
ASIAN		 Other
EUROPE		 OTHER TOTAL
RESID-
UALS
 GRAND
TOTALd
Outright Spot
2,757
820
479
181
191
87
38
167
762
5,483
2,606
58,314
Financial Institutions - Local
137
56
30
6
24
2
6
3
35
298
605
8,722
Financial Institutions - Overseas
2,173
723
442
175
162
80
23
148
541
4,467
1,743
40,994
Non-financial Institutions - Local
0
1
0
0
0
0
6
0
0
7
1
4,572
Non-financial Institutions - Overseas
447
41
7
1
5
6
4
15
185
711
257
4,026
Outright Forwards
116
36
27
9
12
9
3
8
7
226
137
8,424
Financial Institutions - Local
8
3
3
2
2
1
0
0
0
20
9
2,784
Financial Institutions - Overseas
108
33
24
7
7
8
2
6
1
196
122
4,124
Non-financial Institutions - Local
0
0
0
1
0
0
0
1
2
5
5
1,340
Non-financial Institutions - Overseas
0
0
0
0
2
0
0
0
3
6
1
175
FX Swaps
134
72
4
2
10
2
2
1
2
228
652
74,452
Financial Institutions - Local
28
17
0
0
2
1
0
0
0
47
352
28,532
Financial Institutions - Overseas
89
54
4
2
4
1
2
1
1
157
225
43,388
Non-financial Institutions - Local
0
0
0
0
0
0
1
0
0
1
1
1,163
Non-financial Institutions - Overseas
17
1
0
0
4
0
0
0
0
22
74
1,368
Currency Swaps
1
6
0
0
6
0
1
0
0
13
0
2,010
Financial Institutions - Local
0
0
0
0
0
0
0
0
0
0
0
734
Financial Institutions - Overseas
1
6
0
0
6
0
0
0
0
13
0
1,207
Non-financial Institutions - Local
0
0
0
0
0
0
0
0
0
0
0
34
Non-financial Institutions - Overseas
0
0
0
0
0
0
0
0
0
0
0
35
OTC Options
14
6
0
0
9
0
0
0
0
28
9
1,977
Financial Institutions - Local
7
3
0
0
6
0
0
0
0
16
3
264
Financial Institutions - Overseas
7
3
0
0
2
0
0
0
0
12
6
1,304
Non-financial Institutions - Local
0
0
0
0
0
0
0
0
0
0
0
329
Non-financial Institutions - Overseas
0
0
0
0
0
0
0
0
0
0
0
79
Total EUR Turnoverc
3,021
941
509
192
227
99
44
175
771
5,979
3,404
145,177
a Adjusted for reporting dealer double counting. Daily average for October 2008 calculated on 22 trading days (April 2008 calculated on 21 trading days).
b Totals and sub-totals may not sum due to rounding.
c EUR turnover excludes AUD/EUR and EUR/USD turnover.
d Grand total is the sum of AUD turnover (Table 6a), USD turnover (Table 6b), EUR turnover (Table 6c) and Residuals (Table 6c).