Foreign Exchange Turnover Report – April 2013

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 Instrument^a,b Daily average (US$m)
	Apr 2013	Oct 2012	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for April 2013 calculated on 20 trading days (October 2012 calculated on 22 trading days). b Totals and sub-totals may not sum due to rounding.

Outright Spot	47,754	42,065	5,689	14
Outright Forwards	11,615	9,249	2,366	26
FX Swaps	115,243	128,459	−13,217	−10
TRADITIONAL FOREIGN EXCHANGE TURNOVER^b	174,612	179,773	−5,161	−3
Currency Swaps	4,466	4,198	268	6
OTC Options	2,629	2,045	583	29
TOTAL TURNOVER	181,707	186,016	−4,309	−2

Table 2: Foreign Exchange Turnover by Instrument and Counterparty^a,b Daily average (US$m)
	Apr 2013	Oct 2012	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for April 2013 calculated on 20 trading days (October 2012 calculated on 22 trading days). b Sub-totals may not sum due to rounding.

Outright Spot	47,754	42,065	5,689	14
Financial Institutions - Local	7,250	5,790	1,460	25
Financial Institutions - Overseas	37,590	31,247	6,343	20
Non-financial Institutions - Local	2,148	4,328	−2,180	−50
Non-financial Institutions - Overseas	766	700	67	10
Outright Forwards	11,615	9,249	2,366	26
Financial Institutions - Local	3,811	2,810	1,001	36
Financial Institutions - Overseas	5,110	3,407	1,702	50
Non-financial Institutions - Local	1,453	1,503	−50	−3
Non-financial Institutions - Overseas	1,242	1,529	−287	−19
FX Swaps	115,243	128,459	−13,217	−10
Financial Institutions - Local	21,087	24,511	−3,424	−14
Financial Institutions - Overseas	89,201	96,607	−7,406	−8
Non-financial Institutions - Local	1,032	4,123	−3,091	−75
Non-financial Institutions - Overseas	3,922	3,219	704	22
Currency Swaps	4,466	4,198	268	6
Financial Institutions - Local	986	1,567	−581	−37
Financial Institutions - Overseas	3,351	2,040	1,311	64
Non-financial Institutions - Local	72	246	−174	−71
Non-financial Institutions - Overseas	58	344	−287	−83
OTC Options	2,629	2,045	583	29
Financial Institutions - Local	156	298	−141	−47
Financial Institutions - Overseas	2,100	1,314	786	60
Non-financial Institutions - Local	330	297	32	11
Non-financial Institutions - Overseas	43	137	−94	−69

Table 3: Foreign Exchange Turnover by Currency^a Daily average (US$m)
	Apr 2013	Proportion of Total^b	Oct 2012	Proportion of Total^b
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for April 2013 calculated on 20 trading days (October 2012 calculated on 22 trading days). b Proportions sum to 200% as there are two currencies involved in each transaction.

AUD	91,344	50	99,159	53
USD	164,332	90	170,772	92
EUR	26,571	15	30,373	16
OTHER CURRENCIES	81,167	45	71,728	39
TOTAL	181,707		186,016

Table 4: Foreign Exchange Turnover by Currency Pair^a Daily average (US$m)
	Apr 2013	Proportion of Total	Oct 2012	Proportion of Total
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for April 2013 calculated on 20 trading days (October 2012 calculated on 22 trading days). b Totals may not sum due to rounding.

AUD/USD	80,511	44	89,454	48
AUD/EUR	2,516	1	2,338	1
AUD/JPY	2,850	2	2,670	1
AUD/GBP	2,290	1	1,308	1
AUD/CHF	203	0	203	0
AUD/CAD	559	0	759	0
AUD/NZD	1,500	1	1,359	1
AUD/SEK	62	0	82	0
AUD/OTHER ASIAN	644	0	778	0
AUD/OTHER EUROPEAN	118	0	78	0
AUD/OTHER	92	0	129	0
EUR/USD	20,613	11	24,556	13
USD/JPY	20,851	11	13,981	8
USD/GBP	8,975	5	9,032	5
USD/CHF	1,543	1	1,460	1
USD/CAD	4,068	2	5,935	3
USD/NZD	16,958	9	15,371	8
USD/SEK	858	0	483	0
USD/OTHER ASIAN	6,229	3	5,630	3
USD/OTHER EUROPEAN	958	1	899	0
USD/OTHER	2,769	2	3,969	2
EUR/JPY	1,329	1	1,309	1
EUR/GBP	741	0	919	0
EUR/CHF	192	0	221	0
EUR/CAD	192	0	317	0
EUR/NZD	257	0	232	0
EUR/SEK	78	0	35	0
EUR/OTHER ASIAN	165	0	119	0
EUR/OTHER EUROPEAN	101	0	119	0
EUR/OTHER	387	0	207	0
RESIDUAL CURRENCIES	3,100	2	2,060	1
TOTAL^b	181,707		186,016

Table 5: Maturities by Instrument and Currency^a,b Daily average (US$m)
	Seven days or less	Seven days to 1 year	Over 1 year
	US$m	US$m	US$m
a Not adjusted for reporter dealer double counting. Daily average for April 2013 calculated on 20 trading days (October 2012 calculated on 22 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.

Outright Forwards	4,793	7,000	113
Against AUD	2,636	4,347	49
Against USD^c	2,017	2,379	63
Against EUR^c	64	119	1
OTHER CURRENCIES	75	156	0
FX Swaps	103,456	25,307	501
Against AUD	58,912	12,080	299
Against USD^c	43,868	12,952	189
Against EUR^c	370	149	13
OTHER CURRENCIES	305	127	0
Currency Swaps	322	1,800	2,996
Against AUD	322	1,355	2,638
Against USD^c	0	445	337
Against EUR^c	0	0	21
OTHER CURRENCIES	0	0	0
OTC Options	997	1,674	81
Against AUD	650	1,255	78
Against USD^c	339	401	3
Against EUR^c	8	15	0
OTHER CURRENCIES	0	3	0

Table 6a: AUD Turnover by Instrument, Counterparty and Currency^a,b Daily average (US$m)
	AUD Against
	USD	EUR	JPY	GBP	CHF	CAD	NZD	SEK	Other ASIAN	Other EUROPEAN	OTHER	TOTAL
a Adjusted for reporting dealer double counting. Daily average for April 2013 calculated on 20 trading days. b Totals and sub-totals may not sum due to rounding.

Outright Spot	12,654	1,071	1,165	827	120	336	904	21	336	85	36	17,556
Financial Institutions - Local	2,698	150	120	203	5	40	203	1	40	1	5	3,467
Financial Institutions - Overseas	8,464	678	997	566	110	269	610	17	269	80	23	12,084
Non-financial Institutions - Local	1,392	237	21	56	5	26	86	3	26	3	7	1,862
Non-financial Institutions - Overseas	100	6	26	2	0	1	6	0	1	0	1	143
Outright Forwards	5,015	601	386	303	45	130	136	29	199	19	23	6,888
Financial Institutions - Local	1,746	348	243	194	27	96	37	24	129	15	20	2,879
Financial Institutions - Overseas	1,517	68	96	34	4	11	65	3	54	2	1	1,854
Non-financial Institutions - Local	993	179	46	73	14	24	32	2	17	2	2	1,384
Non-financial Institutions - Overseas	759	6	2	2	0	0	1	0	0	0	0	770
FX Swaps	57,689	637	1,195	1,147	33	91	364	11	101	14	13	61,296
Financial Institutions - Local	14,384	213	130	140	18	60	163	9	76	10	8	15,212
Financial Institutions - Overseas	42,482	306	744	974	15	20	143	1	8	2	2	44,697
Non-financial Institutions - Local	733	55	9	33	1	10	54	2	17	2	2	918
Non-financial Institutions - Overseas	90	63	311	0	0	0	4	0	0	0	0	469
Currency Swaps	3,566	148	0	1	0	0	9	0	0	0	0	3,725
Financial Institutions - Local	793	72	0	1	0	0	4	0	0	0	0	870
Financial Institutions - Overseas	2,702	69	0	0	0	0	0	0	0	0	0	2,771
Non-financial Institutions - Local	14	8	0	0	0	0	5	0	0	0	0	26
Non-financial Institutions - Overseas	57	0	0	0	0	0	0	0	0	0	0	58
OTC Options	1,586	58	104	12	4	2	87	0	8	0	20	1,880
Financial Institutions - Local	120	2	1	1	0	0	7	0	1	0	0	132
Financial Institutions - Overseas	1,170	49	102	10	4	2	77	0	6	0	10	1,429
Non-financial Institutions - Local	290	6	2	1	0	0	3	0	0	0	10	312
Non-financial Institutions - Overseas	7	0	0	0	0	0	0	0	0	0	0	7
Total AUD Turnover	80,511	2,516	2,850	2,290	203	559	1,500	62	644	118	92	91,344

Table 6b: USD Turnover by Instrument, Counterparty and Currency^a,b,c Daily average (US$m)
	USD Against
	EUR	JPY	GBP	CHF	CAD	NZD	SEK	Other ASIAN	Other EUROPEAN	OTHER	TOTAL
a Adjusted for reporting dealer double counting. Daily average for April 2013 calculated on 20 trading days. b Totals and sub-totals may not sum due to rounding. c USD turnover excludes AUD/USD turnover.

Outright Spot	7,704	7,607	3,088	535	1,421	2,720	81	1,304	217	354	25,031
Financial Institutions - Local	1,010	800	391	117	230	672	5	132	9	18	3,383
Financial Institutions - Overseas	6,437	6,544	2,642	416	1,161	2,013	73	1,129	199	293	20,907
Non-financial Institutions - Local	137	40	20	2	23	15	2	17	4	22	282
Non-financial Institutions - Overseas	121	224	35	0	7	20	1	26	5	21	459
Outright Forwards	968	745	274	73	115	1,009	40	936	56	100	4,315
Financial Institutions - Local	71	186	28	3	31	113	2	238	15	15	701
Financial Institutions - Overseas	856	532	222	70	72	502	38	679	40	81	3,093
Non-financial Institutions - Local	21	11	4	0	9	8	0	8	0	1	63
Non-financial Institutions - Overseas	19	15	19	0	4	385	0	11	1	2	457
FX Swaps	11,611	12,237	5,574	932	2,474	12,552	738	3,918	684	2,315	53,034
Financial Institutions - Local	1,256	1,056	559	138	220	2,118	12	256	35	73	5,721
Financial Institutions - Overseas	9,621	9,767	4,771	794	2,209	10,194	317	3,658	532	2,046	43,910
Non-financial Institutions - Local	18	11	4	0	16	10	0	4	8	31	99
Non-financial Institutions - Overseas	716	1,404	240	0	29	231	408	0	110	165	3,303
Currency Swaps	110	13	4	0	50	516	0	26	0	0	719
Financial Institutions - Local	1	0	0	0	23	93	0	0	0	0	116
Financial Institutions - Overseas	103	13	4	0	27	384	0	26	0	0	558
Non-financial Institutions - Local	6	0	0	0	0	39	0	0	0	0	45
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0
OTC Options	220	250	36	4	8	161	0	44	0	1	722
Financial Institutions - Local	1	6	5	0	0	8	0	4	0	0	24
Financial Institutions - Overseas	210	220	30	4	7	136	0	38	0	1	645
Non-financial Institutions - Local	8	4	1	0	0	2	0	2	0	0	17
Non-financial Institutions - Overseas	0	19	1	0	0	15	0	0	0	0	36
Total USD Turnover^c	20,613	20,851	8,975	1,543	4,068	16,958	858	6,229	958	2,769	83,821

Table 6c: EUR Turnover by Instrument, Counterparty and Currency^a,b,c Daily average (US$m)
	EUR Against
	JPY	GBP	CHF	CAD	NZD	SEK	Other ASIAN	Other EUROPEAN	OTHER	TOTAL	RESID- UALS	GRAND TOTAL^d
a Adjusted for reporting dealer double counting. Daily average for April 2013 calculated on 20 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).

Outright Spot	1,185	600	166	183	125	77	127	95	146	2,704	2,464	47,754
Financial Institutions - Local	41	32	31	5	10	3	0	7	2	130	270	7,250
Financial Institutions - Overseas	1,092	561	135	171	110	73	126	87	115	2,470	2,129	37,590
Non-financial Institutions - Local	0	0	0	1	0	0	0	0	0	2	2	2,148
Non-financial Institutions - Overseas	52	6	0	7	4	1	1	1	29	101	64	766
Outright Forwards	52	5	15	4	76	1	23	4	2	182	231	11,615
Financial Institutions - Local	9	0	2	0	63	0	13	1	0	89	142	3,811
Financial Institutions - Overseas	42	5	13	4	11	1	5	3	2	85	77	5,110
Non-financial Institutions - Local	0	0	0	0	1	0	2	0	0	4	2	1,453
Non-financial Institutions - Overseas	0	0	0	0	2	0	2	0	0	5	10	1,242
FX Swaps	92	131	11	5	33	0	9	2	229	512	401	115,243
Financial Institutions - Local	8	30	5	3	16	0	7	0	0	69	85	21,087
Financial Institutions - Overseas	71	98	6	1	7	0	2	2	191	378	216	89,201
Non-financial Institutions - Local	0	2	0	1	4	0	0	0	0	8	6	1,032
Non-financial Institutions - Overseas	13	1	0	0	5	0	0	0	38	57	94	3,922
Currency Swaps	0	0	0	0	21	0	0	0	0	21	0	4,466
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	986
Financial Institutions - Overseas	0	0	0	0	21	0	0	0	0	21	0	3,351
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	72
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	58
OTC Options	0	4	0	0	2	0	7	0	10	23	3	2,629
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	156
Financial Institutions - Overseas	0	4	0	0	2	0	7	0	10	22	3	2,100
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	330
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	43
Total EUR Turnover^c	1,329	741	192	192	257	78	165	101	387	3,442	3,100	181,707