Foreign Exchange Turnover Report – October 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 Instrument^a,b
Daily average (US$m)
	Oct 2009	Apr 2009	Change over six months
	US$m	US$m	US$m	%


a Adjusted for reporting dealer double counting. Daily average for October 2009 calculated on 21 trading days (April 2009 calculated on 20 trading days). b Totals and sub-totals may not sum due to rounding.
Outright Spot	59,164	33,840	25,324	75
Outright Forwards	6,457	5,724	732	13
FX Swaps	68,573	80,335	-11,762	-15
TRADITIONAL FOREIGN EXCHANGE TURNOVER^b	134,194	119,899	14,294	12
Currency Swaps	5,637	2,377	3,260	137
OTC Options	1,809	1,885	-75	-4
TOTAL TURNOVER	141,641	124,161	17,479	14

Table 2: Foreign Exchange Turnover by Instrument and Counterparty^a,b
Daily average (US$m)
	Oct 2009	Apr 2009	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2009 calculated on 21 trading days (April 2009 calculated on 20 trading days). b Sub-totals may not sum due to rounding. c Data on currency swaps are available from April 2007.

Outright Spot	59,164	33,840	25,324	75
Financial Institutions - Local	5,704	5,450	254	5
Financial Institutions - Overseas	43,838	24,364	19,475	80
Non-financial Institutions - Local	4,229	2,961	1,268	43
Non-financial Institutions - Overseas	5,392	1,065	4,327	406
Outright Forwards	6,457	5,724	732	13
Financial Institutions - Local	1,630	1,685	-55	-3
Financial Institutions - Overseas	3,974	3,119	855	27
Non-financial Institutions - Local	712	693	19	3
Non-financial Institutions - Overseas	141	228	-87	-38
FX Swaps	68,573	80,335	-11,762	-15
Financial Institutions - Local	22,516	23,417	-901	-4
Financial Institutions - Overseas	43,767	54,261	-10,495	-19
Non-financial Institutions - Local	907	1,304	-398	-30
Non-financial Institutions - Overseas	1,384	1,352	32	2
Currency Swaps^c	5,637	2,377	3,260	137
Financial Institutions - Local	1,086	986	100	10
Financial Institutions - Overseas	4,258	1,345	2,913	217
Non-financial Institutions - Local	216	41	175	425
Non-financial Institutions - Overseas	77	6	72	1,272
OTC Options	1,809	1,885	-75	-4
Financial Institutions - Local	212	242	-30	-13
Financial Institutions - Overseas	1,299	1,255	44	4
Non-financial Institutions - Local	164	348	-184	-53
Non-financial Institutions - Overseas	134	40	95	239

Table 3: Foreign Exchange Turnover by Currency^a
Daily average (US$m)
	Oct 2009 US$m	Proportion of Total^b %	Apr 2009 US$m	Proportion of Total^b %
a Adjusted for reporting dealer double counting. Daily average for October 2009 calculated on 21 trading days (April 2009 calculated on 20 trading days). b Proportions sum to 200% as there are two currencies involved in each transaction.

AUD	64,773	46	57,183	46
USD	124,785	88	111,835	90
EUR	28,135	20	24,189	19
OTHER CURRENCIES	65,587	46	55,117	44
TOTAL	141,641		124,161

Table 4: Foreign Exchange Turnover by Currency Pair^a,b
Daily average (US$m)
	Oct 2009 US$m	Proportion of Total %	Apr 2009 US$m	Proportion of Total %
a Adjusted for reporting dealer double counting. Daily average for October 2009 calculated on 21 trading days (April 2009 calculated on 20 trading days). b The range of currency pairs was expanded in April 2007. c Totals may not sum due to rounding.

AUD/USD	56,488	40	50,850	41
AUD/EUR	2,283	2	2,166	2
AUD/JPY	1,638	1	1,549	1
AUD/GBP	1,263	1	639	1
AUD/CHF	172	0	169	0
AUD/CAD	416	0	235	0
AUD/NZD	1,509	1	1,105	1
AUD/SEK	68	0	24	0
AUD/OTHER ASIAN	461	0	281	0
AUD/OTHER EUROPEAN	100	0	53	0
AUD/OTHER	376	0	112	0
EUR/USD	20,152	14	18,026	15
USD/JPY	12,113	9	14,785	12
USD/GBP	11,542	8	7,059	6
USD/CHF	900	1	1,485	1
USD/CAD	3,790	3	3,045	2
USD/NZD	13,271	9	11,553	9
USD/SEK	318	0	240	0
USD/OTHER ASIAN	4,052	3	3,474	3
USD/OTHER EUROPEAN	536	0	700	1
USD/OTHER	1,624	1	618	0
EUR/JPY	1,564	1	2,094	2
EUR/GBP	1,636	1	757	1
EUR/CHF	262	0	613	0
EUR/CAD	219	0	81	0
EUR/NZD	278	0	120	0
EUR/SEK	204	0	56	0
EUR/OTHER ASIAN	95	0	42	0
EUR/OTHER EUROPEAN	467	0	68	0
EUR/OTHER	974	1	164	0
RESIDUAL CURRENCIES	2,869	2	1,997	2
TOTAL^c	141,641		124,161

Table 5: Maturities by Instrument and Currency^a,b
Daily average (US$m)
	Seven days or less US$m	Seven days to 1 year US$m	Over 1 year US$m
a Daily average for October 2009 calculated on 21 trading days (April 2009 calculated on 20 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	3,589	3,051	139
Against AUD	1,743	1,882	113
Against USD^c	1,658	1,072	25
Against EUR^c	160	77	1
OTHER CURRENCIES	28	20	0
FX Swaps	72,087	13,481	325
Against AUD	34,822	9,657	237
Against USD^c	36,798	3,632	86
Against EUR^c	189	81	0
OTHER CURRENCIES	278	112	2
Currency Swaps	1,210	958	3,990
Against AUD	661	914	3,583
Against USD^c	549	37	346
Against EUR^c	0	7	61
OTHER CURRENCIES	0	0	0
OTC Options	373	1,489	88
Against AUD	284	1,230	63
Against USD^c	71	208	22
Against EUR^c	12	24	3
OTHER CURRENCIES	5	27	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 EUROPE	OTHER	TOTAL
a Adjusted for reporting dealer double counting. Daily average for October 2009 calculated on 21 trading days (April 2009 calculated on 20 trading days). b Totals and sub-totals may not sum due to rounding.

Outright Spot	13,634	1,477	950	800	150	318	872	48	323	83	116	18,771
Financial Institutions - Local	2,539	124	210	84	5	20	178	6	54	3	5	3,229
Financial Institutions - Overseas	7,885	655	524	448	118	180	547	21	138	51	63	10,631
Non-financial Institutions - Local	2,724	638	134	218	27	110	127	21	131	29	32	4,191
Non-financial Institutions - Overseas	486	59	82	49	0	7	19	0	1	1	16	721
Outright Forwards	2,868	219	137	110	8	39	83	5	50	8	6	3,534
Financial Institutions - Local	763	104	74	60	4	21	16	3	39	3	4	1,091
Financial Institutions - Overseas	1,529	47	43	28	1	7	54	1	6	1	0	1,717
Non-financial Institutions - Local	511	67	18	22	3	10	12	2	5	5	2	656
Non-financial Institutions - Overseas	65	1	3	0	0	1	1	0	0	0	0	71
FX Swaps	34,734	464	514	232	14	44	249	11	66	8	26	36,360
Financial Institutions - Local	11,972	317	186	132	9	30	72	6	47	5	1	12,776
Financial Institutions - Overseas	21,617	111	268	83	3	7	131	4	10	1	24	22,258
Non-financial Institutions - Local	703	35	37	17	2	8	29	1	9	2	0	843
Non-financial Institutions - Overseas	442	0	23	0	0	0	17	0	0	0	0	482
Currency Swaps	4,078	48	3	80	0	8	187	0	19	0	222	4,645
Financial Institutions - Local	935	11	3	6	0	8	0	0	18	0	91	1,072
Financial Institutions - Overseas	3,044	37	0	74	0	0	16	0	1	0	131	3,303
Non-financial Institutions - Local	45	0	0	0	0	0	171	0	0	0	0	216
Non-financial Institutions - Overseas	54	0	0	0	0	0	0	0	0	0	0	54
OTC Options	1,173	76	34	42	1	7	118	3	2	0	6	1,463
Financial Institutions - Local	102	19	0	2	0	0	37	0	0	0	0	160
Financial Institutions - Overseas	813	54	33	37	1	5	74	3	1	0	6	1,027
Non-financial Institutions - Local	148	3	0	1	0	2	0	0	1	0	1	156
Non-financial Institutions - Overseas	110	0	0	1	0	0	7	0	0	0	0	119
Total AUD Turnover	56,488	2,283	1,638	1,263	172	416	1,509	68	461	100	376	64,773

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 EUROPE	OTHER	TOTAL
a Adjusted for reporting dealer double counting. Daily average for October 2009 calculated on 21 trading days (April 2009 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	13,787	5,300	6,132	395	1,632	2,833	162	1,125	333	1,115	32,815
Financial Institutions - Local	597	300	359	40	112	458	9	119	9	15	2,018
Financial Institutions - Overseas	11,611	3,904	5,203	349	1,364	2,291	115	969	251	947	27,005
Non-financial Institutions - Local	10	4	3	0	3	2	0	10	1	1	34
Non-financial Institutions - Overseas	1,569	1,092	566	6	154	81	38	27	73	153	3,759
Outright Forwards	704	339	232	30	82	658	9	311	49	228	2,644
Financial Institutions - Local	109	119	44	5	24	20	2	83	6	10	420
Financial Institutions - Overseas	551	213	172	23	56	620	4	220	42	216	2,118
Non-financial Institutions - Local	15	5	10	2	1	5	2	6	2	0	47
Non-financial Institutions - Overseas	29	3	6	0	2	13	0	2	0	3	59
FX Swaps	5,548	6,441	5,115	472	2,017	8,888	146	2,597	154	251	31,630
Financial Institutions - Local	1,461	1,319	2,494	58	1,182	1,959	16	1,036	42	71	9,639
Financial Institutions - Overseas	3,982	4,738	2,564	412	827	6,699	129	1,518	110	178	21,157
Non-financial Institutions - Local	19	8	6	0	2	22	0	1	3	0	61
Non-financial Institutions - Overseas	85	375	52	2	6	209	2	42	0	2	773
Currency Swaps	58	0	27	0	0	814	0	9	0	19	927
Financial Institutions - Local	0	0	0	0	0	6	0	1	0	5	12
Financial Institutions - Overseas	58	0	14	0	0	808	0	8	0	15	903
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0
Non-financial Institutions - Overseas	0	0	13	0	0	0	0	0	0	0	13
OTC Options	54	33	36	1	59	78	0	10	0	10	281
Financial Institutions - Local	12	2	3	1	11	8	0	1	0	6	44
Financial Institutions - Overseas	36	28	30	0	45	63	0	10	0	3	215
Non-financial Institutions - Local	5	2	0	0	0	0	0	0	0	0	7
Non-financial Institutions - Overseas	1	1	2	0	2	7	0	0	0	0	14
Total USD Turnover^c	20,152	12,113	11,542	900	3,790	13,271	318	4,052	536	1,624	68,297

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 EUROPE	OTHER	TOTAL	RESID- UALS	GRAND TOTAL^d
a Adjusted for reporting dealer double counting. Daily average for October 2009 calculated on 21 trading days (April 2009 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	1,297	1,488	219	211	198	199	85	454	972	5,122	2,456	59,164
Financial Institutions - Local	65	79	9	9	31	2	15	13	4	227	230	5,704
Financial Institutions - Overseas	1,077	1,273	179	152	162	157	67	372	891	4,329	1,874	43,838
Non-financial Institutions - Local	0	1	0	0	0	0	0	0	0	2	2	4,229
Non-financial Institutions - Overseas	155	134	31	51	5	39	2	69	78	564	349	5,392
Outright Forwards	147	48	11	4	3	5	6	8	0	232	46	6,457
Financial Institutions - Local	98	7	0	0	0	0	0	0	0	106	13	1,630
Financial Institutions - Overseas	48	34	10	3	2	4	1	8	0	110	30	3,974
Non-financial Institutions - Local	0	8	0	0	0	0	0	0	0	8	0	712
Non-financial Institutions - Overseas	1	0	0	0	1	1	5	1	0	8	3	141
FX Swaps	112	69	33	4	22	1	1	4	2	247	336	68,573
Financial Institutions - Local	22	7	0	0	3	0	1	1	0	34	66	22,516
Financial Institutions - Overseas	68	47	32	4	18	1	0	2	2	174	178	43,767
Non-financial Institutions - Local	0	0	1	0	0	0	0	0	0	1	2	907
Non-financial Institutions - Overseas	22	15	0	0	1	0	0	0	0	38	90	1,384
Currency Swaps	0	10	0	0	51	0	4	0	0	66	0	5,637
Financial Institutions - Local	0	0	0	0	2	0	1	0	0	2	0	1,086
Financial Institutions - Overseas	0	5	0	0	44	0	3	0	0	52	0	4,258
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	216
Non-financial Institutions - Overseas	0	5	0	0	6	0	0	0	0	11	0	77
OTC Options	8	21	0	0	3	0	0	1	0	34	32	1,809
Financial Institutions - Local	5	1	0	0	0	0	0	0	0	7	0	212
Financial Institutions - Overseas	3	19	0	0	2	0	0	1	0	26	31	1,299
Non-financial Institutions - Local	0	0	0	0	0	0	0	1	0	1	0	164
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	1	134
Total EUR Turnover^c	1,564	1,636	262	219	278	204	95	467	974	5,700	2,869	141,641