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Foreign Exchange Turnover Report – April 2009

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 2009
Oct 2008
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
33,840
58,314
-24,474
-42
Outright Forwards
5,724
8,424
-2,700
-32
FX Swaps
80,335
74,452
5,883
8
TRADITIONAL FOREIGN EXCHANGE TURNOVERb
119,899
141,190
-21,291
-15
Currency Swaps
2,377
2,010
367
18
OTC Options
1,885
1,977
-92
-5
TOTAL TURNOVER
124,161
145,177
-21,016
-14
a Adjusted for reporting dealer double counting. Daily average for April 2009 calculated on 20 trading days (October 2008 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 2009
Oct 2008
Change over six months
 
US$m
US$m
US$m
%
Outright Spot
33,840
58,314
-24,474
-42
Financial Institutions - Local
5,450
8,722
-3,272
-38
Financial Institutions - Overseas
24,364
40,994
-16,631
-41
Non-financial Institutions - Local
2,961
4,572
-1,611
-35
Non-financial Institutions - Overseas
1,065
4,026
-2,960
-74
Outright Forwards
5,724
8,424
-2,700
-32
Financial Institutions - Local
1,685
2,784
-1,099
-39
Financial Institutions - Overseas
3,119
4,124
-1,006
-24
Non-financial Institutions - Local
693
1,340
-647
-48
Non-financial Institutions - Overseas
228
175
53
30
FX Swaps
80,335
74,452
5,883
8
Financial Institutions - Local
23,417
28,532
-5,115
-18
Financial Institutions - Overseas
54,261
43,388
10,873
25
Non-financial Institutions - Local
1,304
1,163
141
12
Non-financial Institutions - Overseas
1,352
1,368
-16
-1
Currency Swapsc
2,377
2,010
367
18
Financial Institutions - Local
986
734
251
34
Financial Institutions - Overseas
1,345
1,207
138
11
Non-financial Institutions - Local
41
34
7
21
Non-financial Institutions - Overseas
6
35
-30
-84
OTC Options
1,885
1,977
-92
-5
Financial Institutions - Local
242
264
-22
-8
Financial Institutions - Overseas
1,255
1,304
-49
-4
Non-financial Institutions - Local
348
329
19
6
Non-financial Institutions - Overseas
40
79
-40
-50
a Adjusted for reporting dealer double counting. Daily average for April 2009 calculated on 20 trading days (October 2008 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 2009
US$m
Proportion of Totalb
%
Oct 2008
US$m
Proportion of Totalb
%
AUD
57,183
46
66,715
46
USD
111,835
90
123,610
85
EUR
24,189
19
28,755
20
OTHER CURRENCIES
55,117
44
71,274
49
TOTAL
124,161
145,177
a Adjusted for reporting dealer double counting. Daily average for April 2009 calculated on 20 trading days (October 2008 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 2009
US$m
Proportion of Total
%
Oct 2008
US$m
Proportion of Total
%
AUD/USD
50,850
41
54,531
38
AUD/EUR
2,166
2
2,349
2
AUD/JPY
1,549
1
2,704
2
AUD/GBP
639
1
1,167
1
AUD/CHF
169
0
86
0
AUD/CAD
235
0
256
0
AUD/NZD
1,105
1
1,430
1
AUD/SEK
24
0
38
0
AUD/OTHER ASIAN
281
0
304
0
AUD/OTHER EUROPEAN
53
0
44
0
AUD/OTHER
112
0
3,806
3
EUR/USD
18,026
15
20,427
14
USD/JPY
14,785
12
15,330
11
USD/GBP
7,059
6
8,100
6
USD/CHF
1,485
1
1,139
1
USD/CAD
3,045
2
3,095
2
USD/NZD
11,553
9
15,446
11
USD/SEK
240
0
244
0
USD/OTHER ASIAN
3,474
3
3,403
2
USD/OTHER EUROPEAN
700
1
417
0
USD/OTHER
618
0
1,478
1
EUR/JPY
2,094
2
3,021
2
EUR/GBP
757
1
941
1
EUR/CHF
613
0
509
0
EUR/CAD
81
0
192
0
EUR/NZD
120
0
227
0
EUR/SEK
56
0
99
0
EUR/OTHER ASIAN
42
0
44
0
EUR/OTHER EUROPEAN
68
0
175
0
EUR/OTHER
164
0
771
1
RESIDUAL CURRENCIES
1,997
2
3,404
2
TOTALc
124,161
145,177
a Adjusted for reporting dealer double counting. Daily average for April 2009 calculated on 20 trading days (October 2008 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
2,709
3,175
86
Against AUD
1,162
1,879
74
Against USDc
1,404
1,184
10
Against EURc
116
81
1
OTHER CURRENCIES
27
30
0
FX Swaps
77,046
13,054
7,655
Against AUD
33,136
7,991
3,772
Against USDc
42,645
4,607
3,882
Against EURc
723
246
0
OTHER CURRENCIES
542
211
0
Currency Swaps
810
161
1,531
Against AUD
646
120
1,364
Against USDc
164
41
138
Against EURc
0
0
28
OTHER CURRENCIES
0
0
0
OTC Optionsb
389
1,578
68
Against AUD
275
1,210
60
Against USDc
99
322
7
Against EURc
9
42
0
OTHER CURRENCIES
5
4
0
a Daily average for April 2009 calculated on 20 trading days (October 2008 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.

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
10,630
1,182
787
395
129
145
783
15
151
35
46
14,298
Financial Institutions - Local
3,342
140
102
48
46
19
139
1
24
0
2
3,862
Financial Institutions - Overseas
5,147
574
555
223
64
69
512
1
73
22
16
7,255
Non-financial Institutions - Local
1,948
463
91
124
19
56
111
13
54
13
29
2,921
Non-financial Institutions - Overseas
194
4
39
1
0
1
22
0
0
0
0
261
Outright Forwards
2,307
286
99
56
8
38
84
3
65
3
15
2,964
Financial Institutions - Local
944
189
49
39
5
16
34
1
34
1
10
1,323
Financial Institutions - Overseas
764
35
38
7
2
12
29
1
20
0
1
910
Non-financial Institutions - Local
519
61
10
8
1
10
18
1
11
1
3
645
Non-financial Institutions - Overseas
80
0
2
2
0
0
3
0
0
0
0
87
FX Swaps
34,778
613
605
169
22
25
151
7
62
15
31
36,478
Financial Institutions - Local
12,351
298
226
109
12
12
38
4
37
3
4
13,093
Financial Institutions - Overseas
21,227
249
292
45
7
6
73
1
11
0
20
21,932
Non-financial Institutions - Local
965
64
65
15
3
7
34
2
10
12
7
1,183
Non-financial Institutions - Overseas
235
3
23
0
0
0
6
0
4
0
0
270
Currency Swaps
1,944
11
41
0
9
0
9
0
0
0
10
2,025
Financial Institutions - Local
924
0
36
0
0
0
7
0
0
0
0
967
Financial Institutions - Overseas
995
10
1
0
9
0
2
0
0
0
4
1,021
Non-financial Institutions - Local
20
1
4
0
0
0
0
0
0
0
6
31
Non-financial Institutions - Overseas
6
0
0
0
0
0
0
0
0
0
0
6
OTC Options
1,191
73
16
18
1
27
79
0
3
0
9
1,418
Financial Institutions - Local
160
7
3
5
0
21
14
0
0
0
0
211
Financial Institutions - Overseas
812
53
12
11
1
6
58
0
3
0
9
965
Non-financial Institutions - Local
201
12
1
2
0
0
4
0
0
0
0
220
Non-financial Institutions - Overseas
18
0
0
0
0
0
3
0
0
0
0
22
Total AUD Turnover
50,850
2,166
1,549
639
169
235
1,105
24
281
53
112
57,183
a Adjusted for reporting dealer double counting. Daily average for April 2009 calculated on 20 trading days (October 2008 calculated on 22 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
6,099
3,498
1,978
365
909
1,666
28
656
97
205
15,501
Financial Institutions - Local
395
187
185
14
65
299
8
81
5
11
1,250
Financial Institutions - Overseas
5,435
3,109
1,757
348
818
1,326
18
566
90
161
13,628
Non-financial Institutions - Local
23
2
2
0
3
2
0
7
0
1
39
Non-financial Institutions - Overseas
247
200
34
3
23
39
1
3
2
32
584
Outright Forwards
861
343
180
49
58
494
6
413
33
75
2,512
Financial Institutions - Local
96
84
33
8
12
25
1
56
2
9
327
Financial Institutions - Overseas
743
252
140
40
43
363
4
335
29
64
2,014
Non-financial Institutions - Local
5
2
3
1
2
13
0
12
1
1
40
Non-financial Institutions - Overseas
17
5
4
1
1
93
0
10
1
0
131
FX Swaps
10,951
10,855
4,737
1,054
2,045
9,097
207
2,389
569
333
42,239
Financial Institutions - Local
3,396
1,024
1,095
81
934
2,688
26
844
18
58
10,163
Financial Institutions - Overseas
7,421
9,675
3,595
973
1,106
5,792
181
1,480
552
276
31,051
Non-financial Institutions - Local
36
42
4
0
3
28
0
1
0
0
115
Non-financial Institutions - Overseas
98
114
43
0
2
588
0
64
0
0
910
Currency Swaps
31
24
15
0
17
225
0
12
0
0
325
Financial Institutions - Local
19
0
0
0
0
0
0
0
0
0
19
Financial Institutions - Overseas
13
24
11
0
17
225
0
12
0
0
302
Non-financial Institutions - Local
0
0
4
0
0
0
0
0
0
0
4
Non-financial Institutions - Overseas
0
0
0
0
0
0
0
0
0
0
0
OTC Options
83
65
148
17
17
71
0
3
0
4
409
Financial Institutions - Local
7
2
7
0
2
11
0
0
0
0
29
Financial Institutions - Overseas
66
63
31
17
14
55
0
0
0
4
250
Non-financial Institutions - Local
8
0
106
0
0
0
0
3
0
0
117
Non-financial Institutions - Overseas
3
0
4
0
1
5
0
0
0
0
13
Total USD Turnoverc
18,026
14,785
7,059
1,485
3,045
11,553
240
3,474
700
618
60,984
a Adjusted for reporting dealer double counting. Daily average for April 2009 calculated on 20 trading days (October 2008 calculated on 22 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 1,290 611 484 65 85 50 39 56 140 2,821 1,220 33,840
Financial Institutions - Local 28 97 42 1 9 0 8 1 6 193 145 5,450
Financial Institutions - Overseas 1,127 501 434 63 75 49 31 54 124 2,458 1,022 24,364
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 1 0 2,961
Non-financial Institutions - Overseas 134 12 8 1 1 1 0 1 11 169 52 1,065
Outright Forwards 75 20 51 9 6 3 1 6 23 194 55 5,724
Financial Institutions - Local 7 3 6 0 0 0 0 2 1 18 17 1,685
Financial Institutions - Overseas 68 16 44 9 2 3 1 4 21 167 28 3,119
Non-financial Institutions - Local 0 1 0 0 0 0 0 0 0 2 6 693
Non-financial Institutions - Overseas 0 0 1 0 3 0 0 0 2 7 4 228
FX Swaps 717 84 70 7 18 2 2 4 1 905 714 80,335
Financial Institutions - Local 108 3 2 0 3 0 1 0 0 118 43 23,417
Financial Institutions - Overseas 531 65 68 6 12 2 1 4 1 691 588 54,261
Non-financial Institutions - Local 1 5 0 0 0 0 0 0 0 6 0 1,304
Non-financial Institutions - Overseas 76 11 0 0 3 0 0 0 0 90 82 1,352
Currency Swaps 0 18 0 0 10 0 0 0 0 28 0 2,377
Financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 986
Financial Institutions - Overseas 0 11 0 0 10 0 0 0 0 21 0 1,345
Non-financial Institutions - Local 0 7 0 0 0 0 0 0 0 7 0 41
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 6
OTC Options 13 25 8 1 1 0 0 2 0 49 9 1,885
Financial Institutions - Local 1 0 0 0 0 0 0 1 0 2 0 242
Financial Institutions - Overseas 12 10 8 1 1 0 0 1 0 32 8 1,255
Non-financial Institutions - Local 0 11 0 0 0 0 0 0 0 11 0 348
Non-financial Institutions - Overseas 0 4 0 0 0 0 0 0 0 4 1 40
Total EUR Turnoverc 2,094 757 613 81 120 56 42 68 164 3,997 1,997 124,161
a Adjusted for reporting dealer double counting. Daily average for April 2009 calculated on 20 trading days (October 2008 calculated on 22 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).