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Foreign Exchange Turnover Report – October 2010

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$m)
  Oct 2010 Apr 2010 Change over six months
  US$m US$m US$m %
a Adjusted for reporting dealer double counting. Daily average for October 2010 calculated on 20 trading days (April 2010 calculated on 19 trading days).

b Totals and sub-totals may not sum due to rounding.
Outright Spot 47,364 60,299 −12,935 −21
Outright Forwards 8,743 8,054 689 9
FX Swaps 130,529 117,696 12,833 11
TRADITIONAL FOREIGN EXCHANGE TURNOVERb 186,636 186,049 587 0
Currency Swaps 7,940 4,442 3,497 79
OTC Options 1,782 1,878 −95 −5
TOTAL TURNOVER 196,359 192,369 3,989 2
Table 2: Foreign Exchange Turnover by Instrument and Counterpartya,b Daily average (US$m)
  Oct 2010 Apr 2010 Change over six months
  US$m US$m US$m %
a Adjusted for reporting dealer double counting. Daily average for October 2010 calculated on 20 trading days (April 2010 calculated on 19 trading days).

b Sub-totals may not sum due to rounding.

c Data on currency swaps are available from April 2007.
Outright Spot 47,364 60,299 −12,935 −21
Financial Institutions - Local 6,398 8,041 −1,643 −20
Financial Institutions - Overseas 34,337 43,310 −8,973 −21
Non-financial Institutions - Local 4,399 5,089 −690 −14
Non-financial Institutions - Overseas 2,231 3,859 −1,628 −42
Outright Forwards 8,743 8,054 689 9
Financial Institutions - Local 2,712 2,861 −149 −5
Financial Institutions - Overseas 4,535 3,657 878 24
Non-financial Institutions - Local 1,227 1,342 −115 −9
Non-financial Institutions - Overseas 270 194 76 39
FX Swaps 130,529 117,696 12,833 11
Financial Institutions - Local 26,128 24,687 1,441 6
Financial Institutions - Overseas 101,258 90,408 10,849 12
Non-financial Institutions - Local 1,142 1,059 83 8
Non-financial Institutions - Overseas 2,001 1,541 460 30
Currency Swapsc 7,940 4,442 3,497 79
Financial Institutions - Local 1,106 658 448 68
Financial Institutions - Overseas 6,707 3,741 2,966 79
Non-financial Institutions - Local 70 24 46 191
Non-financial Institutions - Overseas 56 19 37 193
OTC Options 1,782 1,878 −95 −5
Financial Institutions - Local 179 273 −94 −34
Financial Institutions - Overseas 1,346 1,409 −63 −4
Non-financial Institutions - Local 189 129 60 47
Non-financial Institutions - Overseas 69 67 2 3
Table 3: Foreign Exchange Turnover by Currencya Daily average (US$m)
  Oct 2010 Proportion of Totalb Apr 2010 Proportion of Totalb
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for October 2010 calculated on 20 trading days (April 2010 calculated on 19 trading days).

b Proportions sum to 200% as there are two currencies involved in each transaction.
AUD 100,512 51 85,895 45
USD 180,548 92 173,860 90
EUR 34,614 18 46,814 24
OTHER CURRENCIES 77,043 39 78,170 41
TOTAL 196,359   192,369  
Table 4: Foreign Exchange Turnover by Currency Paira,b Daily average (US$m)
  Oct 2010 Proportion of Total Apr 2010 Proportion of Total
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for October 2010 calculated on 20 trading days (April 2010 calculated on 19 trading days).

b The range of currency pairs was expanded in April 2007.

c Totals may not sum due to rounding.
AUD/USD 90,271 46 75,569 39
AUD/EUR 3,364 2 3,045 2
AUD/JPY 2,340 1 2,773 1
AUD/GBP 1,617 1 1,467 1
AUD/CHF 182 0 170 0
AUD/CAD 598 0 701 0
AUD/NZD 1,487 1 1,419 1
AUD/SEK 44 0 61 0
AUD/OTHER ASIAN 433 0 533 0
AUD/OTHER EUROPEAN 50 0 47 0
AUD/OTHER 126 0 110 0
EUR/USD 27,842 14 38,044 20
USD/JPY 18,665 10 18,864 10
USD/GBP 13,607 7 14,078 7
USD/CHF 1,044 1 1,154 1
USD/CAD 4,473 2 4,397 2
USD/NZD 14,479 7 12,446 6
USD/SEK 695 0 539 0
USD/OTHER ASIAN 6,160 3 5,879 3
USD/OTHER EUROPEAN 437 0 629 0
USD/OTHER 2,875 1 2,260 1
EUR/JPY 936 0 2,222 1
EUR/GBP 1,115 1 1,364 1
EUR/CHF 208 0 218 0
EUR/CAD 170 0 303 0
EUR/NZD 243 0 238 0
EUR/SEK 133 0 190 0
EUR/OTHER ASIAN 148 0 120 0
EUR/OTHER EUROPEAN 141 0 329 0
EUR/OTHER 314 0 740 0
RESIDUAL CURRENCIES 2,161 1 2,459 1
TOTALc 196,359   192,369  
Table 5: Maturities by Instrument and Currencya,b Daily average (US$m)
  Seven days or less Seven days to 1 year Over 1 year
  US$m US$m US$m
a Daily average for October 2010 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 3,448 5,442 334
Against AUD 2,175 2,823 129
Against USDc 1,177 2,541 193
Against EURc 65 56 12
OTHER CURRENCIES 31 21 0
FX Swaps 131,738 19,028 354
Against AUD 65,566 13,466 283
Against USDc 65,553 5,508 69
Against EURc 142 33 0
OTHER CURRENCIES 477 21 2
Currency Swaps 927 3,304 4,349
Against AUD 927 3,280 3,778
Against USDc 0 24 571
Against EURc 0 0 0
OTHER CURRENCIES 0 0 0
OTC Options 442 1,360 48
Against AUD 273 832 25
Against USDc 159 491 23
Against EURc 9 26 1
OTHER CURRENCIES 1 10 0
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
a Adjusted for reporting dealer double counting. Daily average for October 2010 calculated on 20 trading days.

b Totals and sub-totals may not sum due to rounding.
Outright Spot 14,313 1,344 934 992 123 439 978 23 285 29 101 19,561
Financial Institutions - Local 2,514 126 270 198 24 62 190 5 31 2 2 3,424
Financial Institutions - Overseas 8,427 627 542 561 71 258 672 6 112 11 36 11,322
Non-financial Institutions - Local 2,966 567 85 221 27 116 87 12 141 15 59 4,295
Non-financial Institutions - Overseas 406 25 37 13 1 3 29 0 1 1 4 520
Outright Forwards 3,613 448 256 281 20 82 142 9 97 17 9 4,972
Financial Institutions - Local 1,217 243 164 187 8 51 50 4 62 7 4 1,998
Financial Institutions - Overseas 1,368 116 65 65 5 19 74 2 25 2 2 1,741
Non-financial Institutions - Local 979 70 24 27 7 11 12 3 10 8 3 1,153
Non-financial Institutions - Overseas 49 18 3 2 1 0 6 0 0 0 0 80
FX Swaps 64,298 1,396 1,110 304 37 52 271 11 48 5 12 67,544
Financial Institutions - Local 15,422 160 202 84 11 16 146 5 27 2 5 16,082
Financial Institutions - Overseas 47,404 1,050 824 170 22 15 84 3 5 1 4 49,583
Non-financial Institutions - Local 841 105 24 27 4 20 29 2 15 2 2 1,070
Non-financial Institutions - Overseas 631 80 60 24 0 1 11 0 0 0 1 810
Currency Swaps 7,135 150 24 30 0 14 0 0 0 0 0 7,352
Financial Institutions - Local 1,070 7 1 0 0 0 0 0 0 0 0 1,078
Financial Institutions - Overseas 6,016 106 12 0 0 14 0 0 0 0 0 6,148
Non-financial Institutions - Local 34 24 11 0 0 0 0 0 0 0 0 69
Non-financial Institutions - Overseas 15 12 0 29 0 0 0 0 0 0 0 56
OTC Options 913 26 16 10 2 11 97 2 3 0 3 1,082
Financial Institutions - Local 87 2 2 0 0 0 18 0 0 0 1 110
Financial Institutions - Overseas 608 20 11 10 2 10 75 1 1 0 0 738
Non-financial Institutions - Local 171 4 0 0 0 0 2 1 1 0 2 180
Non-financial Institutions - Overseas 48 0 2 0 0 1 3 0 0 0 0 55
Total AUD Turnover 90,271 3,364 2,340 1,617 182 598 1,487 44 433 50 126 100,512
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
a Adjusted for reporting dealer double counting. Daily average for October 2010 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 11,094 2,923 2,657 448 1,485 1,732 70 1,816 133 698 23,056
Financial Institutions - Local 907 346 215 84 181 477 6 284 4 69 2,573
Financial Institutions - Overseas 9,374 2,344 2,312 353 1,233 1,212 58 1,412 115 547 18,960
Non-financial Institutions - Local 52 6 7 0 6 7 0 15 0 6 98
Non-financial Institutions - Overseas 762 226 123 12 65 36 6 105 14 76 1,425
Outright Forwards 634 277 219 52 174 304 49 1,651 18 215 3,593
Financial Institutions - Local 103 58 49 7 46 23 2 317 0 55 659
Financial Institutions - Overseas 492 203 159 44 122 259 47 1,195 17 150 2,688
Non-financial Institutions - Local 26 8 6 0 2 10 0 6 1 2 61
Non-financial Institutions - Overseas 12 9 5 1 4 13 0 133 0 7 185
FX Swaps 15,581 15,372 10,537 539 2,766 12,178 556 2,659 286 1,912 62,386
Financial Institutions - Local 1,636 1,146 2,551 76 946 2,156 127 898 136 274 9,945
Financial Institutions - Overseas 13,656 13,937 7,911 455 1,793 9,785 226 1,728 131 1,633 51,266
Non-financial Institutions - Local 22 18 8 1 12 1 0 5 0 0 68
Non-financial Institutions - Overseas 266 261 67 7 14 236 203 28 19 5 1,107
Currency Swaps 264 50 118 0 0 117 20 19 0 0 588
Financial Institutions - Local 0 16 0 0 0 10 0 1 0 0 27
Financial Institutions - Overseas 264 34 118 0 0 106 20 18 0 0 559
Non-financial Institutions - Local 0 0 0 0 0 1 0 0 0 0 1
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0
OTC Options 269 43 76 5 48 147 0 15 0 51 654
Financial Institutions - Local 39 9 1 0 2 16 0 0 0 0 68
Financial Institutions - Overseas 223 33 74 5 40 126 0 15 0 49 554
Non-financial Institutions - Local 3 1 1 0 2 2 0 0 0 0 9
Non-financial Institutions - Overseas 4 0 0 0 5 3 0 0 0 2 13
Total USD Turnoverc 27,842 18,665 13,607 1,044 4,473 14,479 695 6,160 437 2,875 90,277
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
a Adjusted for reporting dealer double counting. Daily average for October 2010 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 856 969 190 152 214 122 140 130 314 3,086 1,660 47,364
Financial Institutions - Local 36 120 13 11 16 10 43 2 7 257 144 6,398
Financial Institutions - Overseas 725 801 176 130 196 102 94 108 272 2,605 1,449 34,337
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 5 4,399
Non-financial Institutions - Overseas 95 48 1 11 1 10 3 20 35 224 62 2,231
Outright Forwards 26 62 7 9 5 2 5 10 0 127 51 8,743
Financial Institutions - Local 2 27 1 2 1 0 2 5 0 39 15 2,712
Financial Institutions - Overseas 22 30 5 7 4 2 3 5 0 79 27 4,535
Non-financial Institutions - Local 0 4 0 0 0 0 0 0 0 5 8 1,227
Non-financial Institutions - Overseas 2 1 1 0 0 0 0 0 0 4 1 270
FX Swaps 50 60 10 3 24 9 2 0 0 159 439 130,529
Financial Institutions - Local 13 7 3 2 2 0 2 0 0 29 72 26,128
Financial Institutions - Overseas 24 43 7 1 21 9 1 0 0 107 301 101,258
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 4 1,142
Non-financial Institutions - Overseas 12 10 0 0 0 0 0 0 0 22 62 2,001
Currency Swaps 0 0 0 0 0 0 0 0 0 0 0 7,940
Financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 1,106
Financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 6,707
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 70
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 56
OTC Options 3 24 1 7 1 0 0 0 0 36 10 1,782
Financial Institutions - Local 0 1 0 0 0 0 0 0 0 1 0 179
Financial Institutions - Overseas 3 22 1 7 1 0 0 0 0 34 20 1,346
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 189
Non-financial Institutions - Overseas 1 0 0 0 0 0 0 0 0 1 0 69
Total EUR Turnoverc 936 1,115 208 170 243 133 148 141 314 3,408 2,161 196,359