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Foreign Exchange Turnover Report – October 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)
Oct 2007
Apr 2007
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
46,285
44,308
1,977
4.5
Outright Forwards
11,766
14,480
-2,714
-18.7
FX Swaps
91,770
110,731
-18,960
-17.1
TRADITIONAL FOREIGN EXCHANGE TURNOVERb
149,821
169,519
-19,698
-11.6
Currency Swaps
2,372
2,121
251
11.9
OTC Options
2,377
4,651
-2,274
-48.9
TOTAL TURNOVER
154,570
176,290
-21,720
-12.3
a Adjusted for reporting dealer double counting. Daily average for October 2007 calculated on 22 trading days (April 2007 calculated on 18 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 2007
Apr 2007
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
46,285
44,308
1,977
5.0
Financial Institutions - Local
7,786
6,574
1,212
18.4
Financial Institutions - Overseas
31,191
31,958
-768
-2.4
Non-financial Institutions - Local
5,453
4,002
1,451
36.2
Non-financial Institutions - Overseas
1,855
1,773
82
4.6
Outright Forwards
11,766
14,480
-2,714
-18.7
Financial Institutions - Local
2,984
3,121
-136
-4.4
Financial Institutions - Overseas
7,441
9,423
-1,983
-21.0
Non-financial Institutions - Local
1,247
1,703
-456
-26.8
Non-financial Institutions - Overseas
94
234
-140
-59.8
FX Swaps
91,770
110,731
-18,960
-17.1
Financial Institutions - Local
28,915
38,049
-9,134
-24.0
Financial Institutions - Overseas
60,254
63,383
-3,130
-4.9
Non-financial Institutions - Local
1,488
8,025
-6,537
-81.5
Non-financial Institutions - Overseas
1,114
1,273
-160
-12.5
Currency Swapsc
2,372
2,121
251
11.9
Financial Institutions - Local
206
424
-218
-51.5
Financial Institutions - Overseas
2,093
1,485
607
40.9
Non-financial Institutions - Local
61
178
-117
-65.8
Non-financial Institutions - Overseas
13
33
-21
-62.0
OTC Options
2,377
4,651
-2,274
-48.9
Financial Institutions - Local
195
497
-302
-60.8
Financial Institutions - Overseas
1,796
3,424
-1,628
-47.6
Non-financial Institutions - Local
267
363
-96
-26.5
Non-financial Institutions - Overseas
119
366
-247
-67.5
a Adjusted for reporting dealer double counting. Daily average for October 2007 calculated on 22 trading days (April 2007 calculated on 18 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 2007
US$m
Proportion of Totalb
%
Apr 2007
US$m
Proportion of Totalb
%
AUD
77,249
50.0
89,155
50.6
USD
136,675
88.4
160,380
91.0
EUR
30,040
19.4
30,651
17.4
OTHER CURRENCIES
65,176
42.2
72,395
41.1
TOTAL
154,570
176,290
a Adjusted for reporting dealer double counting. Daily average for October 2007 calculated on 22 trading days (April 2007 calculated on 18 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
68,245
44.2
80,460
45.6
AUD/EUR
2,547
1.6
2,527
1.4
AUD/JPY
2,482
1.6
1,926
1.1
AUD/GBP
1,416
0.9
1,649
0.9
AUD/CHF
122
0.1
291
0.2
AUD/CAD
432
0.3
324
0.2
AUD/NZD
1,453
0.9
1,364
0.8
AUD/SEK
42
0.0
53
0.0
AUD/OTHER ASIAN
332
0.2
329
0.2
AUD/OTHER EUROPEAN
43
0.0
85
0.0
AUD/OTHER
135
0.1
146
0.1
EUR/USD
22,643
14.6
24,015
13.6
USD/JPY
13,600
8.8
13,716
7.8
USD/GBP
7,403
4.8
10,174
5.8
USD/CHF
1,474
1.0
6,399
3.6
USD/CAD
3,975
2.6
3,491
2.0
USD/NZD
13,636
8.8
15,873
9.0
USD/SEK
304
0.2
311
0.2
USD/OTHER ASIAN
3,558
2.3
4,476
2.5
USD/OTHER EUROPEAN
632
0.4
319
0.2
USD/OTHER
1,204
0.8
1,146
0.7
EUR/JPY
2,235
1.4
1,722
1.0
EUR/GBP
669
0.4
697
0.4
EUR/CHF
433
0.3
376
0.2
EUR/CAD
185
0.1
114
0.1
EUR/NZD
361
0.2
232
0.1
EUR/SEK
109
0.1
148
0.1
EUR/OTHER ASIAN
78
0.1
54
0.0
EUR/OTHER EUROPEAN
130
0.1
431
0.2
EUR/OTHER
651
0.4
334
0.2
RESIDUAL CURRENCIES
4,040
2.6
3,107
1.8
TOTALc
154,570
176,290
a Adjusted for reporting dealer double counting. Daily average for October 2007 calculated on 22 trading days (April 2007 calculated on 18 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
8,817
3,810
173
Against AUD
3,888
2,389
122
Against USDc
3,832
1,309
48
Against EURc
335
49
2
OTHER CURRENCIES
762
62
2
FX Swaps
88,674
15,274
9,123
Against AUD
43,539
10,036
6,284
Against USDc
44,300
5,157
2,837
Against EURc
151
42
0
OTHER CURRENCIES
683
38
2
Currency Swaps
1,057
304
1,075
Against AUD
653
112
776
Against USDc
404
192
254
Against EURc
0
0
46
OTHER CURRENCIES
0
0
0
OTC Optionsb
1,035
1,321
139
Against AUD
794
1,107
95
Against USDc
232
177
44
Against EURc
3
7
0
OTHER CURRENCIES
6
30
0
a Daily average for October 2007 calculated on 22 trading days (April 2007 calculated on 18 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
14,319
1,401
1,244
857
55
292
945
28
176
28
105
19,450
Financial Institutions - Local
3,460
141
334
166
4
22
139
5
16
0
4
4,290
Financial Institutions - Overseas
7,518
468
625
445
24
183
579
10
70
9
49
9,981
Non-financial Institutions - Local
2,986
784
148
243
27
75
197
13
88
18
50
4,631
Non-financial Institutions - Overseas
355
8
137
3
1
11
30
0
2
0
2
549
Outright Forwards
4,024
559
360
254
46
86
305
9
83
9
6
5,741
Financial Institutions - Local
1,509
270
154
153
6
22
70
4
41
5
3
2,237
Financial Institutions - Overseas
1,679
174
165
43
33
52
129
3
28
1
0
2,307
Non-financial Institutions - Local
822
113
39
58
7
11
95
2
13
3
2
1,165
Non-financial Institutions - Overseas
14
3
2
0
0
0
12
1
0
0
0
33
FX Swaps
46,873
436
800
240
17
49
175
5
57
5
25
48,682
Financial Institutions - Local
16,611
261
324
195
13
28
95
3
48
2
12
17,592
Financial Institutions - Overseas
28,854
80
392
16
1
2
46
0
1
0
11
29,405
Non-financial Institutions - Local
1,074
93
53
28
4
19
33
2
8
3
1
1,318
Non-financial Institutions - Overseas
334
2
30
0
0
0
1
0
0
0
0
366
Currency Swaps
1,424
6
12
43
0
0
0
0
7
0
0
1,491
Financial Institutions - Local
173
0
0
11
0
0
0
0
1
0
0
185
Financial Institutions - Overseas
1,192
5
4
30
0
0
0
0
5
0
0
1,236
Non-financial Institutions - Local
57
0
0
2
0
0
0
0
0
0
0
59
Non-financial Institutions - Overseas
1
0
8
0
0
0
0
0
1
0
0
10
OTC Options
1,605
144
66
23
4
5
28
0
8
1
0
1,885
Financial Institutions - Local
167
0
1
0
0
0
0
0
0
0
0
168
Financial Institutions - Overseas
1,193
120
50
21
4
3
26
0
6
1
0
1,424
Non-financial Institutions - Local
204
14
9
2
0
2
0
0
2
1
0
233
Non-financial Institutions - Overseas
41
10
6
0
0
0
2
0
0
0
0
59
Total AUD Turnover
68,245
2,547
2,482
1,416
122
432
1,453
42
332
43
135
77,249
a Adjusted for reporting dealer double counting. Daily average for October 2007 calculated on 22 trading days (April 2007 calculated on 18 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
6,347
5,488
2,199
576
1,246
2,395
72
740
98
630
19,791
Financial Institutions - Local
851
472
319
55
121
837
5
123
7
47
2,838
Financial Institutions - Overseas
4,951
4,851
1,855
512
1,073
1,486
66
602
86
501
15,714
Non-financial Institutions - Local
505
12
4
2
7
23
0
8
4
3
569
Non-financial Institutions - Overseas
40
421
21
6
44
50
1
6
2
79
670
Outright Forwards
1,396
1,285
457
147
342
562
29
566
69
49
4,902
Financial Institutions - Local
92
176
60
16
41
128
1
101
5
4
625
Financial Institutions - Overseas
1,278
1,093
392
130
299
395
22
445
61
42
4,158
Non-financial Institutions - Local
12
9
5
2
2
22
5
19
3
2
79
Non-financial Institutions - Overseas
14
6
1
0
1
18
0
1
0
1
41
FX Swaps
14,526
6,774
4,629
725
2,380
10,019
203
2,208
459
524
42,447
Financial Institutions - Local
4,102
1,177
1,612
161
477
2,712
13
645
39
99
11,036
Financial Institutions - Overseas
9,979
5,464
2,988
564
1,871
7,168
190
1,548
419
421
30,612
Non-financial Institutions - Local
15
10
27
0
3
98
0
12
1
0
167
Non-financial Institutions - Overseas
430
123
2
0
29
41
0
2
0
4
632
Currency Swaps
288
22
54
6
0
434
0
36
0
0
840
Financial Institutions - Local
0
0
3
0
0
10
0
2
0
0
16
Financial Institutions - Overseas
288
22
48
6
0
424
0
33
0
0
821
Non-financial Institutions - Local
0
0
0
0
0
0
0
1
0
0
1
Non-financial Institutions - Overseas
0
0
2
0
0
0
0
0
0
0
2
OTC Options
86
31
64
20
8
225
0
8
6
1
449
Financial Institutions - Local
2
2
9
0
0
11
0
0
0
0
24
Financial Institutions - Overseas
82
26
46
19
7
153
0
7
2
1
343
Non-financial Institutions - Local
2
0
8
0
0
21
0
0
0
0
32
Non-financial Institutions - Overseas
1
3
1
0
0
40
0
0
4
0
50
Total USD Turnoverc
22,643
13,600
7,403
1,474
3,975
13,636
304
3,558
632
1,204
68,430
a Adjusted for reporting dealer double counting. Daily average for October 2007 calculated on 22 trading days (April 2007 calculated on 18 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
1,918
592
402
158
296
98
47
128
644
4,284
2,760
46,285
Financial Institutions - Local
62
52
21
7
29
5
0
6
31
213
445
7,786
Financial Institutions - Overseas
1,726
506
365
145
259
87
40
113
474
3,714
1,782
31,191
Non-financial Institutions - Local
2
14
14
3
1
0
0
2
1
38
216
5,453
Non-financial Institutions - Overseas
128
20
2
4
8
6
7
7
138
319
317
1,855
Outright Forwards
177
56
30
23
39
11
10
2
5
353
770
11,766
Financial Institutions - Local
5
19
1
9
10
0
4
0
0
47
76
2,984
Financial Institutions - Overseas
172
37
29
14
22
11
6
2
3
296
681
7,441
Non-financial Institutions - Local
0
1
0
0
1
0
0
0
0
2
1
1,247
Non-financial Institutions - Overseas
0
0
0
0
6
0
0
0
2
8
12
94
FX Swaps
131
5
1
4
21
0
4
0
1
166
475
91,770
Financial Institutions - Local
18
1
0
2
14
0
0
0
0
34
252
28,915
Financial Institutions - Overseas
105
3
1
0
7
0
4
0
1
120
117
60,254
Non-financial Institutions - Local
0
0
0
0
0
0
0
0
0
1
2
1,488
Non-financial Institutions - Overseas
8
1
0
1
1
0
0
0
0
11
104
1,114
Currency Swaps
8
15
0
0
0
0
17
0
0
41
0
2,372
Financial Institutions - Local
0
3
0
0
0
0
1
0
0
5
0
206
Financial Institutions - Overseas
8
12
0
0
0
0
15
0
0
35
0
2,093
Non-financial Institutions - Local
0
0
0
0
0
0
1
0
0
1
0
61
Non-financial Institutions - Overseas
0
0
0
0
0
0
0
0
0
0
0
13
OTC Options
1
0
0
0
4
0
0
0
1
7
36
2,377
Financial Institutions - Local
1
0
0
0
2
0
0
0
0
3
0
195
Financial Institutions - Overseas
0
0
0
0
2
0
0
0
1
4
25
1,796
Non-financial Institutions - Local
0
0
0
0
0
0
0
0
0
0
1
267
Non-financial Institutions - Overseas
0
0
0
0
0
0
0
0
0
0
10
119
Total EUR Turnoverc
2,235
669
433
185
361
109
78
130
651
4,851
4,040
154,570
a Adjusted for reporting dealer double counting. Daily average for October 2007 calculated on 22 trading days (April 2007 calculated on 18 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).