Semi-Annual Report on Foreign Exchange Turnover
The Semi-annual Report on Foreign Exchange Turnover compiles data from 25 financial institutions that are active in the Australian foreign exchange market and is drawn from the Reserve Bank of Australia's monthly turnover survey. The results for October 2012 are presented in the summary tables and charts below.
The main findings of the report are:
- Total average daily turnover in all OTC foreign exchange instruments in the Australian market was US$186.0 billion in October 2012. This was an increase of 6 per cent from April 2012, and an increase of 12 per cent over the year.
- Average daily turnover in traditional OTC foreign exchange instruments (spot, outright forwards and foreign exchange swaps) in the Australian market was US$179.8 billion in October 2012. This was an increase of 6 per cent from April 2012, with a 9 per cent increase in foreign exchange swap turnover more than offsetting a 1 per cent decline in both spot and outright forward turnover over the six-month period. Over the year, turnover in traditional OTC instruments increased by 12 per cent.
- Average daily turnover in OTC options and cross-currency interest rate swaps (currency swaps) in the Australian market was US$6.2 billion in October 2012. This was an increase of 14 per cent from April 2012, but a decline of 7 per cent over the year.
Tables 1 to 5 report summaries of foreign exchange turnover in the Australian market by instrument, counterparty, currency and maturity for October 2012, with some comparisons to April 2012. Tables 6a to 6c provide the full set of data for October 2012.
For the purposes of this report, turnover is defined as the gross value of all new deals entered into during the month (regardless of whether or not settlement was made during the period) and is reported in terms of the nominal or notional amount of the contracts. Figures reflect all deals struck in Australia, irrespective of where deals are booked (i.e. data are collected on a sales desk basis). As such, survey results are directly comparable to the Bank for International Settlements (BIS) Triennial Survey. All amounts in this report are converted to US dollars using the average AUD/USD exchange rate for the month in which data are collected.
The next semi-annual report will be released in July 2013, presenting data for April 2013. Monthly data for selected
series can be accessed at:
Similar semi-annual foreign exchange turnover surveys are conducted for a number of foreign exchange markets. The results of these surveys can be found at:
For queries regarding the RBA foreign exchange turnover survey, please contact:
65 Martin Place
GPO Box 3947
SYDNEY NSW 2001
Phone: +61 2 9551 9720