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Foreign Exchange Turnover Report – April 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)
Apr 2008
Oct 2007
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
56,330
46,614
9,716
21
Outright Forwards
9,227
9,578
-351
-4
FX Swaps
91,918
93,120
-1,203
-1
TRADITIONAL FOREIGN EXCHANGE TURNOVERb
157,474
149,312
8,163
5
Currency Swaps
3,336
3,543
-207
-6
OTC Options
2,187
2,602
-415
-16
TOTAL TURNOVER
162,997
155,457
7,540
5
a Adjusted for reporting dealer double counting. Daily average for April 2008 calculated on 21 trading days (October 2007 calculated on 22 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 2008
Oct 2007
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
56,330
46,614
9,716
21
Financial Institutions - Local
7,975
7,928
47
1
Financial Institutions - Overseas
40,538
31,249
9,289
30
Non-financial Institutions - Local
4,525
5,604
-1,079
-19
Non-financial Institutions - Overseas
3,292
1,833
1,459
80
Outright Forwards
9,227
9,578
-351
-4
Financial Institutions - Local
2,364
2,302
62
3
Financial Institutions - Overseas
5,765
5,987
-222
-4
Non-financial Institutions - Local
964
1,188
-224
-19
Non-financial Institutions - Overseas
134
100
34
34
FX Swaps
91,918
93,120
-1,203
-1
Financial Institutions - Local
30,046
30,638
-591
-2
Financial Institutions - Overseas
59,091
59,963
-872
-1
Non-financial Institutions - Local
1,532
1,425
107
8
Non-financial Institutions - Overseas
1,248
1,094
154
14
Currency Swapsc
3,336
3,543
-207
-6
Financial Institutions - Local
674
650
24
4
Financial Institutions - Overseas
2,527
2,808
-281
-10
Non-financial Institutions - Local
62
72
-10
-14
Non-financial Institutions - Overseas
74
13
60
449
OTC Options
2,187
2,602
-415
-16
Financial Institutions - Local
360
281
79
28
Financial Institutions - Overseas
1,495
1,865
-369
-20
Non-financial Institutions - Local
98
340
-242
-71
Non-financial Institutions - Overseas
233
116
117
101
a Adjusted for reporting dealer double counting. Daily average for April 2008 calculated on 21 trading days (October 2007 calculated on 22 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 2008
US$m
Proportion of Totalb
%
Oct 2007
US$m
Proportion of Totalb
%
AUD
72,089
44
78,962
51
USD
145,189
89
138,256
89
EUR
36,660
22
29,745
19
OTHER CURRENCIES
72,057
44
63,950
41
TOTAL
162,997
155,457
a Adjusted for reporting dealer double counting. Daily average for April 2008 calculated on 21 trading days (October 2007 calculated on 22 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 2008
US$m
Proportion of Total
%
Oct 2007
US$m
Proportion of Total
%
AUD/USD
62,019
38
70,388
45
AUD/EUR
2,869
2
2,407
2
AUD/JPY
2,898
2
2,405
2
AUD/GBP
1,496
1
1,365
1
AUD/CHF
287
0
97
0
AUD/CAD
300
0
394
0
AUD/NZD
1,468
1
1,375
1
AUD/SEK
101
0
43
0
AUD/OTHER ASIAN
364
0
319
0
AUD/OTHER EUROPEAN
73
0
43
0
AUD/OTHER
215
0
129
0
EUR/USD
29,319
18
22,545
15
USD/JPY
15,574
10
13,547
9
USD/GBP
9,168
6
7,409
5
USD/CHF
2,677
2
1,471
1
USD/CAD
3,469
2
3,844
2
USD/NZD
16,524
10
13,496
9
USD/SEK
542
0
299
0
USD/OTHER ASIAN
3,885
2
3,431
2
USD/OTHER EUROPEAN
402
0
622
0
USD/OTHER
1,610
1
1,204
1
EUR/JPY
1,829
1
2,237
1
EUR/GBP
946
1
658
0
EUR/CHF
380
0
423
0
EUR/CAD
136
0
176
0
EUR/NZD
240
0
346
0
EUR/SEK
123
0
104
0
EUR/OTHER ASIAN
90
0
69
0
EUR/OTHER EUROPEAN
135
0
130
0
EUR/OTHER
593
0
651
0
RESIDUAL CURRENCIES
3,266
2
3,833
2
TOTALc
162,997
155,457
a Adjusted for reporting dealer double counting. Daily average for April 2008 calculated on 21 trading days (October 2007 calculated on 22 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
5,201
4,151
130
Against AUD
2,334
2,376
68
Against USDc
2,565
1,647
50
Against EURc
151
77
11
OTHER CURRENCIES
150
51
1
FX Swaps
91,443
15,672
6,258
Against AUD
41,456
9,351
3,475
Against USDc
48,961
6,026
2,777
Against EURc
139
231
0
OTHER CURRENCIES
887
63
6
Currency Swaps
854
920
1,799
Against AUD
165
780
1,484
Against USDc
689
136
291
Against EURc
0
4
24
OTHER CURRENCIES
0
0
0
OTC Optionsb
862
1,459
106
Against AUD
617
1,104
61
Against USDc
236
334
45
Against EURc
5
16
0
OTHER CURRENCIES
4
5
0
a Daily average for 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
13,961
1,589
1,219
913
203
179
989
87
226
33
153
19,551
Financial Institutions - Local
3,480
223
460
256
33
22
171
1
65
4
25
4,739
Financial Institutions - Overseas
7,356
672
490
388
121
57
607
66
64
3
77
9,900
Non-financial Institutions - Local
2,760
649
178
240
49
80
164
20
96
27
50
4,311
Non-financial Institutions - Overseas
366
46
91
28
0
20
47
0
1
0
1
601
Outright Forwards
3,506
263
232
223
35
41
223
5
43
16
21
4,609
Financial Institutions - Local
1,197
164
158
158
22
27
53
3
30
10
15
1,837
Financial Institutions - Overseas
1,623
42
54
21
10
11
71
1
4
1
2
1,839
Non-financial Institutions - Local
659
55
16
44
2
3
90
1
8
2
3
885
Non-financial Institutions - Overseas
28
3
4
0
1
0
9
0
0
3
0
48
FX Swaps
41,170
775
1,320
343
44
72
106
9
91
24
40
43,994
Financial Institutions - Local
15,693
519
469
281
14
54
48
8
61
16
10
17,174
Financial Institutions - Overseas
23,919
152
772
37
21
2
26
0
22
0
17
24,968
Non-financial Institutions - Local
1,224
104
39
25
9
16
29
1
8
8
12
1,475
Non-financial Institutions - Overseas
333
0
40
0
0
0
3
0
0
0
0
377
Currency Swaps
2,140
172
30
0
0
0
0
0
1
0
0
2,343
Financial Institutions - Local
442
58
19
0
0
0
0
0
0
0
0
519
Financial Institutions - Overseas
1,608
84
0
0
0
0
0
0
1
0
0
1,692
Non-financial Institutions - Local
47
15
0
0
0
0
0
0
0
0
0
62
Non-financial Institutions - Overseas
43
15
11
0
0
0
0
0
0
0
0
69
OTC Options
1,241
69
98
16
5
9
149
0
3
0
1
1,592
Financial Institutions - Local
207
6
17
5
1
3
47
0
0
0
0
286
Financial Institutions - Overseas
886
61
69
11
3
5
51
0
3
0
1
1,091
Non-financial Institutions - Local
79
2
1
1
0
1
4
0
0
0
1
88
Non-financial Institutions - Overseas
68
0
10
0
1
0
47
0
0
0
0
127
Total AUD Turnover
62,019
2,869
2,898
1,496
287
300
1,468
101
364
73
215
72,089
a Adjusted for reporting dealer double counting. Daily average for 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
13,335
6,517
3,842
718
1,013
3,160
93
759
107
927
30,471
Financial Institutions - Local
723
359
313
105
89
737
9
133
9
29
2,508
Financial Institutions - Overseas
11,877
5,284
3,296
605
841
2,284
81
589
93
752
25,702
Non-financial Institutions - Local
154
5
5
2
1
9
0
10
1
1
188
Non-financial Institutions - Overseas
580
868
228
6
82
130
3
27
4
144
2,073
Outright Forwards
1,466
565
444
161
161
679
139
394
67
103
4,179
Financial Institutions - Local
101
80
55
22
23
79
2
95
12
2
471
Financial Institutions - Overseas
1,334
464
384
138
121
546
136
285
53
96
3,559
Non-financial Institutions - Local
18
9
5
0
2
22
0
12
2
4
74
Non-financial Institutions - Overseas
14
12
1
0
14
33
0
1
0
1
76
FX Swaps
14,259
7,997
4,834
1,794
2,291
11,983
307
2,717
227
581
46,989
Financial Institutions - Local
4,693
1,381
1,163
718
645
2,704
9
807
29
298
12,448
Financial Institutions - Overseas
9,367
6,540
3,664
1,069
1,641
8,829
298
1,877
197
281
33,763
Non-financial Institutions - Local
26
9
2
0
3
14
0
1
0
0
56
Non-financial Institutions - Overseas
174
66
4
7
3
436
0
31
0
1
722
Currency Swaps
174
380
6
3
3
390
0
11
0
0
966
Financial Institutions - Local
3
110
1
1
1
39
0
1
0
0
154
Financial Institutions - Overseas
171
270
5
2
2
348
0
10
0
0
809
Non-financial Institutions - Local
0
0
0
0
0
0
0
0
0
0
0
Non-financial Institutions - Overseas
0
0
0
0
0
3
0
0
0
0
3
OTC Options
85
116
42
1
1
313
3
5
1
0
566
Financial Institutions - Local
19
5
3
0
0
44
0
0
0
0
71
Financial Institutions - Overseas
61
68
37
1
0
205
3
5
1
0
382
Non-financial Institutions - Local
3
0
0
0
0
6
0
0
0
0
9
Non-financial Institutions - Overseas
2
42
2
0
0
58
0
0
0
0
104
Total USD Turnoverc
29,319
15,574
9,168
2,677
3,469
16,524
542
3,885
402
1,610
83,170
a Adjusted for reporting dealer double counting. Daily average for 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 1,647 718 356 118 160 95 75 121 581 3,870 2,437 56,330
Financial Institutions - Local 64 60 51 0 3 6 0 5 63 252 475 7,975
Financial Institutions - Overseas 1,442 574 299 102 133 84 71 111 469 3,285 1,651 40.538
Non-financial Institutions - Local 1 0 0 0 1 0 0 0 0 3 23 4,525
Non-financial Institutions - Overseas 140 84 6 16 23 5 4 4 49 331 288 3,292
Outright Forwards 84 48 17 18 25 15 7 13 12 238 201 9,227
Financial Institutions - Local 2 14 1 0 10 0 2 6 3 39 17 2,364
Financial Institutions - Overseas 81 32 16 17 12 12 5 5 9 189 178 5,765
Non-financial Institutions - Local 0 0 0 0 1 2 0 2 0 5 1 964
Non-financial Institutions - Overseas 0 1 0 0 3 0 0 0 0 5 5 134
FX Swaps 87 172 8 1 35 14 0 0 0 317 618 91,918
Financial Institutions - Local 23 4 0 0 32 2 0 0 0 61 364 30,046
Financial Institutions - Overseas 50 167 7 1 2 12 0 0 0 240 120 59,091
Non-financial Institutions - Local 0 1 0 0 0 0 0 0 0 1 0 1,532
Non-financial Institutions - Overseas 14 1 0 0 0 0 0 0 0 15 134 1,248
Currency Swaps 5 3 0 0 12 0 7 0 0 27 0 3,336
Financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 674
Financial Institutions - Overseas 5 3 0 0 11 0 7 0 0 26 0 2,527
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 62
Non-financial Institutions - Overseas 0 0 0 0 1 0 0 0 0 1 0 74
OTC Options 6 6 0 0 8 0 0 0 0 20 9 2,187
Financial Institutions - Local 0 0 0 0 3 0 0 0 0 3 0 360
Financial Institutions - Overseas 6 5 0 0 5 0 0 0 0 16 7 1,495
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 1 98
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 2 233
Total EUR Turnoverc 1,829 946 380 136 240 123 90 135 593 4,472 3,266 162,997
a Adjusted for reporting dealer double counting. Daily average for 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).