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Foreign Exchange Turnover Report – APRIL 2007

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)
Apr 2007
Oct 2006
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
44,307
44,844
-537
-1.2
Outright Forwards
14,481
8,688
5,793
66.7
FX Swaps
110,731
92,801
17,929
19.3
TRADITIONAL FOREIGN EXCHANGE TURNOVERb
169,518
146,334
23,184
15.8
Currency Swaps
2,121
--
2,121
--
OTC Options
4,651
2,735
1,916
70.0
TOTAL TURNOVER
176,289
149,068
27,221
18.3
a Adjusted for reporting dealer double counting. Daily average for April 2007 calculated on 18 trading days (October 2006 calculated on 19 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)
 
Apr 2007
Oct 2006
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
44,307
44,844
-537
-1.2
Financial Institutions - Local
6,574
7,979
-1,406
-17.6
Financial Institutions - Overseas
31,958
32,389
-432
-1.3
Non-financial Institutions - Local
4,002
3,379
624
18.5
Non-financial Institutions - Overseas
1,773
1,097
676
61.7
Outright Forwards
14,481
8,688
5,793
66.7
Financial Institutions - Local
3,121
2,008
1,113
55.4
Financial Institutions - Overseas
9,423
4,540
4,884
107.6
Non-financial Institutions - Local
1,703
1,818
-116
-6.4
Non-financial Institutions - Overseas
234
322
-88
-27.4
FX Swaps
110,731
92,801
17,929
19.3
Financial Institutions - Local
38,049
26,734
11,315
42.3
Financial Institutions - Overseas
63,383
59,574
3,809
6.4
Non-financial Institutions - Local
8,025
3,582
4,443
124.0
Non-financial Institutions - Overseas
1,273
`2,911
-1,638
-56.3
Currency Swapsc
2,121
--
--
--
Financial Institutions - Local
424
--
--
--
Financial Institutions - Overseas
1,485
--
--
--
Non-financial Institutions - Local
178
--
--
--
Non-financial Institutions - Overseas
33
--
--
--
OTC Options
4,651
2,735
1,916
70.0
Financial Institutions - Local
497
317
180
56.7
Financial Institutions - Overseas
3,424
1,512
1,912
126.4
Non-financial Institutions - Local
363
525
-162
-30.8
Non-financial Institutions - Overseas
366
381
-15
-3.8
a Adjusted for reporting dealer double counting. Daily average for April 2007 calculated on 18 trading days (October 2006 calculated on 19 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)
 
Apr 2007
US$m
Proportion of Totalb
%
Oct 2006
US$m
Proportion of Totalb
%
AUD
89,155
50.6
72,446
48.6
USD
160,379
91.0
131,473
88.2
EUR
30,651
17.4
17,896
12.0
OTHER CURRENCIES
72,394
41.1
76,323
51.2
TOTAL
176,289
149,068
a Adjusted for reporting dealer double counting. Daily average for April 2007 calculated on 18 trading days (October 2006 calculated on 19 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)
 
Apr 2007
US$m
Proportion of Total
%
Oct 2006
US$m
Proportion of Total
%
AUD/USD
80,460
45.6
64,179
43.1
AUD/EUR
2,527
1.4
--
--
AUD/JPY
1,926
1.1
1,703
1.1
AUD/GBP
1,649
0.9
--
--
AUD/CHF
291
0.2
--
--
AUD/CAD
324
0.2
--
--
AUD/NZD
1,364
0.8
2,078
1.4
AUD/SEK
53
0.0
--
--
AUD/OTHER ASIAN
329
0.2
--
--
AUD/OTHER EUROPEAN
85
0.0
--
--
AUD/OTHER
146
0.1
4,486
3.0
EUR/USD
24,015
13.6
17,896
12.0
USD/JPY
13,716
7.8
13,990
9.4
USD/GBP
10,174
5.8
--
--
USD/CHF
6,399
3.6
--
--
USD/CAD
3,491
2.0
--
--
USD/NZD
15,873
9.0
13,150
8.8
USD/SEK
311
0.2
--
--
USD/OTHER ASIAN
4,476
2.5
3,412
2.3
USD/OTHER EUROPEAN
319
0.2
--
--
USD/OTHER
1,146
0.7
18,847
12.6
EUR/JPY
1,722
1.0
--
--
EUR/GBP
697
0.4
--
--
EUR/CHF
376
0.2
--
--
EUR/CAD
114
0.1
--
--
EUR/NZD
232
0.1
--
--
EUR/SEK
148
0.1
--
--
EUR/OTHER ASIAN
54
0.0
--
--
EUR/OTHER EUROPEAN
431
0.2
--
--
EUR/OTHER
334
0.2
--
--
RESIDUAL CURRENCIES
3,107
1.8
9,329
6.3
TOTALc
176,289
149,068
a Adjusted for reporting dealer double counting. Daily average for April 2007 calculated on 18 trading days (October 2006 calculated on 19 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
10,161
5,310
224
Against AUD
3,810
2,880
161
Against USDc
5,578
1,953
24
Against EURc
471
66
1
OTHER CURRENCIES
302
411
37
FX Swaps
118,861
19,716
266
Against AUD
61,718
14,982
203
Against USDc
56,358
4,617
61
Against EURc
112
98
2
OTHER CURRENCIES
674
19
--
Currency Swaps
338
913
960
Against AUD
143
798
823
Against USDc
195
102
137
Against EURc
--
8
--
OTHER CURRENCIES
--
5
--
OTC Optionsb
1,259
3,180
545
Against AUD
737
2,046
380
Against USDc
434
949
143
Against EURc
22
116
9
OTHER CURRENCIES
67
69
12
a Daily average for April 2007 calculated on 18 trading days (October 2006 calculated on 19 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
12,201
1,191
782
871
137
121
719
24
220
39
95
16,402
Financial Institutions - Local
2,668
69
113
294
16
18
172
2
48
6
11
3,418
Financial Institutions - Overseas
6,843
470
459
269
95
45
366
7
106
16
34
8,711
Non-financial Institutions - Local
2,357
635
141
240
23
52
162
15
66
17
49
3,755
Non-financial Institutions - Overseas
333
17
70
68
3
6
19
--
0
0
1
517
Outright Forwards
4,639
426
277
273
37
74
411
16
63
11
3
6,231
Financial Institutions - Local
1,502
239
145
115
7
28
62
13
25
8
2
2,145
Financial Institutions - Overseas
2,011
73
107
76
28
25
113
2
23
1
0
2,459
Non-financial Institutions - Local
1,072
111
23
75
2
9
214
2
8
3
1
1,520
Non-financial Institutions - Overseas
55
2
3
7
0
12
22
--
6
--
--
108
FX Swaps
59,834
548
635
468
67
73
193
13
34
34
44
61,943
Financial Institutions - Local
22,387
314
316
215
55
56
109
9
21
27
16
23,525
Financial Institutions - Overseas
30,573
34
228
93
2
2
26
0
3
0
18
30,980
Non-financial Institutions - Local
6,544
196
74
126
10
14
52
4
10
8
10
7,046
Non-financial Institutions - Overseas
330
5
17
34
--
--
7
0
--
--
--
393
Currency Swaps
1,425
177
28
9
--
24
1
--
12
--
--
1,676
Financial Institutions - Local
321
67
12
9
--
12
--
--
--
--
--
422
Financial Institutions - Overseas
1,003
9
15
0
--
12
0
--
4
--
--
1,044
Non-financial Institutions - Local
68
101
--
0
--
--
1
--
8
--
--
178
Non-financial Institutions - Overseas
33
--
--
--
--
--
--
--
--
--
--
33
OTC Options
2,361
184
205
28
50
32
40
--
--
--
4
2,902
Financial Institutions - Local
324
3
0
--
--
--
2
--
--
--
--
330
Financial Institutions - Overseas
1,723
81
109
19
32
14
37
--
--
--
3
2,017
Non-financial Institutions - Local
223
75
12
1
0
0
0
--
--
--
1
314
Non-financial Institutions - Overseas
90
25
83
8
17
18
1
--
--
--
--
241
Total AUD Turnover
80,460
2,527
1,926
1,649
291
324
1,364
53
329
85
146
89,155
a Adjusted for reporting dealer double counting. Daily average for April 2007 calculated on 18 trading days (October 2006 calculated on 19 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
7,126
5,495
3,924
824
1,098
3,227
60
525
68
504
22,850
Financial Institutions - Local
488
526
503
210
93
553
1
119
3
41
2,538
Financial Institutions - Overseas
6,315
4,675
3,248
602
987
2,540
57
389
57
421
19,292
Non-financial Institutions - Local
50
39
16
8
5
35
0
6
6
2
168
Non-financial Institutions - Overseas
272
255
157
4
12
97
2
11
1
40
852
Outright Forwards
1,662
1,316
955
248
360
1,637
40
684
69
65
7,036
Financial Institutions - Local
200
119
147
21
67
165
10
94
4
19
847
Financial Institutions - Overseas
1,398
1,174
794
208
261
1,356
29
584
63
43
5,909
Non-financial Institutions - Local
51
16
10
16
18
55
1
5
2
3
177
Non-financial Institutions - Overseas
13
8
5
3
13
60
--
1
1
0
104
FX Swaps
14,681
6,688
4,890
5,230
1,978
10,512
211
3,219
182
548
48,137
Financial Institutions - Local
4,339
1,077
1,429
3,028
291
2,546
15
1,435
17
51
14,228
Financial Institutions - Overseas
9,674
5,442
3,321
2,178
1,672
7,302
194
1,747
160
484
32,175
Non-financial Institutions - Local
140
105
50
24
13
583
1
37
6
4
962
Non-financial Institutions - Overseas
529
63
89
--
2
81
--
0
--
8
772
Currency Swaps
183
12
92
9
22
99
--
15
--
--
431
Financial Institutions - Local
--
--
--
--
--
2
--
1
--
--
3
Financial Institutions - Overseas
183
12
92
9
22
97
--
14
--
--
429
Non-financial Institutions - Local
--
--
--
--
--
--
--
--
--
--
--
Non-financial Institutions - Overseas
--
--
--
--
--
--
--
--
--
--
--
OTC Options
363
205
313
88
33
399
--
32
--
29
1,463
Financial Institutions - Local
59
9
7
4
10
11
--
7
--
3
109
Financial Institutions - Overseas
294
168
294
82
23
302
--
19
--
21
1,204
Non-financial Institutions - Local
4
3
10
1
0
19
--
--
--
3
41
Non-financial Institutions - Overseas
7
24
3
1
--
67
--
5
--
2
109
Total USD Turnoverc
24,015
13,716
10,174
6,399
3,491
15,873
311
4,476
319
1,146
79,919
a Adjusted for reporting dealer double counting. Daily average for April 2007 calculated on 18 trading days (October 2006 calculated on 19 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 1,436 503 274 92 158 122 25 368 309 3,287 1,768 44,307
Financial Institutions - Local 83 31 30 1 48 7 0 202 14 416 201 6,574
Financial Institutions - Overseas 1,261 456 240 90 104 111 25 91 258 2,635 1,319 31,958
Non-financial Institutions - Local 1 1 3 -- 1 0 -- 65 1 73 7 4,002
Non-financial Institutions - Overseas 90 16 1 1 6 4 0 10 35 163 241 1,773
Outright Forwards 200 113 55 16 35 20 29 11 8 487 726 14,481
Financial Institutions - Local 22 17 3 -- 8 2 9 -- 0 61 68 3,121
Financial Institutions - Overseas 174 94 52 15 19 18 19 11 8 410 645 9,423
Non-financial Institutions - Local 0 1 0 1 1 -- -- -- -- 4 2 1,703
Non-financial Institutions - Overseas 3 -- 0 -- 7 -- -- 0 -- 11 12 234
FX Swaps 47 50 0 2 37 -- -- 48 3 187 463 110,731
Financial Institutions - Local 18 0 0 1 7 -- -- 36 1 62 234 38,049
Financial Institutions - Overseas 14 50 -- 1 29 -- -- -- 3 96 133 63,383
Non-financial Institutions - Local 0 -- 0 1 0 -- -- 12 0 13 4 8,025
Non-financial Institutions - Overseas 14 0 -- -- 1 -- -- -- -- 16 92 1,273
Currency Swaps -- 8 -- -- -- -- -- -- -- 8 5 2,121
Financial Institutions - Local -- -- -- -- -- -- -- -- -- 8 -- 424
Financial Institutions - Overseas -- 8 -- -- -- -- -- -- -- -- 5 1,485
Non-financial Institutions - Local -- -- -- -- -- -- -- -- -- -- -- 178
Non-financial Institutions - Overseas -- -- -- -- -- -- -- -- -- -- -- 33
OTC Options 39 23 47 3 2 7 0 4 13 140 145 4,651
Financial Institutions - Local 4 1 2 -- -- 1 -- -- 6 14 44 497
Financial Institutions - Overseas 35 18 45 3 2 6 0 4 5 120 84 3,424
Non-financial Institutions - Local -- -- -- -- 0 -- -- -- 2 2 6 363
Non-financial Institutions - Overseas -- 4 -- -- 0 -- -- -- -- 4 11 366
Total EUR Turnoverc 1,722 697 376 114 232 148 54 431 334 4,109 3,107 176,289
a Adjusted for reporting dealer double counting. Daily average for April 2007 calculated on 18 trading days (October 2006 calculated on 19 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).