Foreign Exchange Turnover Report – April 2012

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$m)
	Apr 2012	Oct 2011	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for April 2012 calculated on 18 trading days (October 2011 calculated on 20 trading days). b Totals and sub-totals may not sum due to rounding.

Outright Spot	42,450	47,796	−5,346	−11
Outright Forwards	9,316	9,513	−197	−2
FX Swaps	118,477	102,953	15,524	15
TRADITIONAL FOREIGN EXCHANGE TURNOVER^b	170,243	160,261	9,982	6
Currency Swaps	3,360	3,825	−465	−12
OTC Options	2,128	2,934	−806	−27
TOTAL TURNOVER	175,732	167,020	8,712	5

Table 2: Foreign Exchange Turnover by Instrument and Counterparty^a,b Daily average (US$m)
	Apr 2012	Oct 2011	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for April 2012 calculated on 18 trading days (October 2011 calculated on 20 trading days). b Sub-totals may not sum due to rounding.

Outright Spot	42,450	47,796	−5,346	−11
Financial Institutions - Local	6,746	7,395	−649	−9
Financial Institutions - Overseas	30,291	34,219	-3,928	−11
Non-financial Institutions - Local	4,596	4,981	−385	−8
Non-financial Institutions - Overseas	818	1,201	−383	−32
Outright Forwards	9,316	9,512	-196	−2
Financial Institutions - Local	2,824	3,260	−436	−13
Financial Institutions - Overseas	4,314	4,272	42	1
Non-financial Institutions - Local	1,920	1,535	385	25
Non-financial Institutions - Overseas	258	446	−188	−42
FX Swaps	118,477	102,953	15,524	15
Financial Institutions - Local	20,884	22,816	−1,932	−8
Financial Institutions - Overseas	90,515	77,083	13,432	17
Non-financial Institutions - Local	3,887	1,235	2,652	215
Non-financial Institutions - Overseas	3,191	1,819	1,372	75
Currency Swaps	3,360	3,825	−465	−12
Financial Institutions - Local	819	664	155	23
Financial Institutions - Overseas	2,019	3,009	−990	−33
Non-financial Institutions - Local	321	23	298	1,296
Non-financial Institutions - Overseas	202	129	73	57
OTC Options	2,128	2,934	−806	−27
Financial Institutions - Local	171	323	−152	−47
Financial Institutions - Overseas	1,277	2,162	−885	−41
Non-financial Institutions - Local	484	343	141	41
Non-financial Institutions - Overseas	196	105	91	87

Table 3: Foreign Exchange Turnover by Currency^a Daily average (US$m)
	Apr 2012	Proportion of Total^b	Oct 2011	Proportion of Total^b
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for April 2012 calculated on 18 trading days (October 2011 calculated on 20 trading days). b Proportions sum to 200% as there are two currencies involved in each transaction.

AUD	91,314	52	88,241	53
USD	160,057	91	152,020	91
EUR	29,214	17	23,364	14
OTHER CURRENCIES	70,879	40	70,414	42
TOTAL	175,732		167,020

Table 4: Foreign Exchange Turnover by Currency Pair^a Daily average (US$m)
	Apr 2012	Proportion of Total	Oct 2011	Proportion of Total
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for April 2012 calculated on 18 trading days (October 2011 calculated on 20 trading days). b Totals may not sum due to rounding.

AUD/USD	81,319	46	78,622	47
AUD/EUR	2,305	1	2,051	1
AUD/JPY	3,057	2	2,485	1
AUD/GBP	1,607	1	1,861	1
AUD/CHF	129	0	111	0
AUD/CAD	685	0	629	0
AUD/NZD	1,241	1	1,521	1
AUD/SEK	44	0	64	0
AUD/OTHER ASIAN	740	0	685	0
AUD/OTHER EUROPEAN	58	0	48	0
AUD/OTHER	128	0	163	0
EUR/USD	23,390	13	17,986	11
USD/JPY	17,878	10	20,283	12
USD/GBP	8,962	5	7,901	5
USD/CHF	1,739	1	1,167	1
USD/CAD	5,362	3	3,821	2
USD/NZD	13,405	8	14,190	8
USD/SEK	406	0	542	0
USD/OTHER ASIAN	5,248	3	5,687	3
USD/OTHER EUROPEAN	572	0	689	0
USD/OTHER	1,778	1	1,133	1
EUR/JPY	1,354	1	819	0
EUR/GBP	900	1	1,204	1
EUR/CHF	296	0	420	0
EUR/CAD	195	0	147	0
EUR/NZD	209	0	205	0
EUR/SEK	45	0	53	0
EUR/OTHER ASIAN	131	0	180	0
EUR/OTHER EUROPEAN	140	0	56	0
EUR/OTHER	247	0	243	0
RESIDUAL CURRENCIES	2,161	1	2,053	1
TOTAL^b	175,732	100	167,020	100

Table 5: Maturities by Instrument and Currency^a,b Daily average (US$m)
	Seven days or less	Seven days to 1 year	Over 1 year
	US$m	US$m	US$m
a Not adjusted for reporter dealer double counting. Daily average for April 2012 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.

Outright Forwards	3,317	6,034	261
Against AUD	1,842	4,062	124
Against USD^c	1,374	1,846	136
Against EUR^c	72	57	1
OTHER CURRENCIES	30	69	0
FX Swaps	105,945	25,635	694
Against AUD	55,534	15,082	348
Against USD^c	49,193	10,193	347
Against EUR^c	746	295	0
OTHER CURRENCIES	472	65	0
Currency Swaps	182	839	2,715
Against AUD	171	794	2,637
Against USD^c	11	45	76
Against EUR^c	0	0	2
OTHER CURRENCIES	0	0	0
OTC Options	497	1,658	105
Against AUD	429	1,263	57
Against USD^c	65	366	48
Against EUR^c	3	23	0
OTHER CURRENCIES	0	7	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 EUROPEAN	OTHER	TOTAL
a Adjusted for reporting dealer double counting. Daily average for April 2012 calculated on 18 trading days. b Totals and sub-totals may not sum due to rounding.

Outright Spot	14,332	1,211	1,008	866	67	450	839	18	477	28	76	19,371
Financial Institutions - Local	2,126	135	126	157	5	59	185	2	100	5	5	2,905
Financial Institutions - Overseas	8,893	499	764	504	32	305	475	3	163	2	8	11,648
Non-financial Institutions - Local	3,067	561	107	180	29	80	162	13	212	20	63	4,495
Non-financial Institutions - Overseas	247	16	11	24	0	6	18	0	2	0	0	323
Outright Forwards	4,038	509	378	425	41	125	162	22	156	20	27	5,904
Financial Institutions - Local	1,248	220	214	157	14	65	49	14	97	8	10	2,095
Financial Institutions - Overseas	1,434	96	92	129	5	33	87	3	20	5	3	1,907
Non-financial Institutions - Local	1,259	191	71	130	22	24	22	4	37	7	14	1,783
Non-financial Institutions - Overseas	97	2	1	10	0	3	4	0	2	0	0	119
FX Swaps	58,290	534	1,654	303	21	98	144	5	96	11	23	61,178
Financial Institutions - Local	13,724	88	136	66	8	21	39	2	45	0	6	14,136
Financial Institutions - Overseas	41,006	311	1,315	193	6	56	49	1	29	8	14	42,988
Non-financial Institutions - Local	2,806	132	47	42	6	18	46	2	21	2	3	3,125
Non-financial Institutions - Overseas	754	3	157	2	0	3	10	0	1	0	0	929
Currency Swaps	3,211	20	0	2	0	1	0	0	0	0	0	3,234
Financial Institutions - Local	774	0	0	0	0	0	0	0	0	0	0	774
Financial Institutions - Overseas	1,924	12	0	1	0	0	0	0	0	0	0	1,937
Non-financial Institutions - Local	312	7	0	1	0	0	0	0	0	0	0	321
Non-financial Institutions - Overseas	201	0	0	0	0	1	0	0	0	0	0	201
OTC Options	1,447	32	16	11	0	11	96	0	12	0	1	1,626
Financial Institutions - Local	130	0	2	0	0	0	26	0	1	0	0	159
Financial Institutions - Overseas	767	21	13	7	0	6	41	0	10	0	0	866
Non-financial Institutions - Local	440	3	0	2	0	0	18	0	1	0	0	463
Non-financial Institutions - Overseas	110	8	1	2	0	5	12	0	1	0	0	138
Total AUD Turnover	81,319	2,305	3,057	1,607	129	685	1,241	44	740	58	128	91,314

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 EUROPEAN	OTHER	TOTAL
a Adjusted for reporting dealer double counting. Daily average for April 2012 calculated on 18 trading days. b Totals and sub-totals may not sum due to rounding. c USD turnover excludes AUD/USD turnover.

Outright Spot	7,708	3,264	2,639	360	1,613	1,706	57	1,522	85	259	19,213
Financial Institutions - Local	1,131	681	527	35	426	358	3	202	7	34	3,403
Financial Institutions - Overseas	6,406	2,507	2,046	318	1,125	1,296	52	1,286	72	190	15,300
Non-financial Institutions - Local	19	17	12	1	6	7	0	13	2	13	90
Non-financial Institutions - Overseas	152	58	54	6	56	45	1	21	4	23	420
Outright Forwards	858	386	215	65	204	225	40	1,087	12	100	3,194
Financial Institutions - Local	236	56	60	5	25	32	3	226	2	33	678
Financial Institutions - Overseas	551	302	136	60	159	173	34	792	7	54	2,268
Non-financial Institutions - Local	33	14	12	1	14	11	0	28	4	10	127
Non-financial Institutions - Overseas	38	14	7	0	6	8	3	41	0	3	121
FX Swaps	14,560	14,053	6,082	1,313	3,531	11,367	310	2,627	475	1,418	55,736
Financial Institutions - Local	1,842	1,340	661	206	302	1,609	31	435	66	130	6,622
Financial Institutions - Overseas	11,548	12,609	5,343	1,065	3,178	8,804	146	2,160	319	1,111	46,283
Non-financial Institutions - Local	104	54	19	19	31	469	0	1	1	0	700
Non-financial Institutions - Overseas	1,066	49	59	22	20	485	132	32	90	176	2,131
Currency Swaps	58	43	4	0	4	13	0	1	0	0	124
Financial Institutions - Local	24	16	3	0	2	0	0	0	0	0	44
Financial Institutions - Overseas	35	28	1	0	2	13	0	1	0	0	80
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0
OTC Options	206	132	22	0	9	93	0	10	0	0	471
Financial Institutions - Local	5	0	0	0	0	3	0	1	0	0	9
Financial Institutions - Overseas	188	130	7	0	6	47	0	8	0	0	388
Non-financial Institutions - Local	6	2	9	0	0	4	0	0	0	0	21
Non-financial Institutions - Overseas	7	0	6	0	2	38	0	1	0	0	54
Total USD Turnover^c	23,390	17,878	8,962	1,739	5,362	13,405	406	5,248	572	1,778	78,739

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 EUROPEAN	OTHER	TOTAL	RESID- UALS	GRAND TOTAL^d
a Adjusted for reporting dealer double counting. Daily average for April 2012 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).

Outright Spot	814	714	238	125	130	43	108	93	68	2,334	1,532	42,450
Financial Institutions - Local	53	128	38	15	31	5	20	13	1	305	133	6,746
Financial Institutions - Overseas	744	576	186	107	97	35	87	77	60	1,970	1,372	30,291
Non-financial Institutions - Local	0	4	1	0	1	0	0	1	0	8	4	4,596
Non-financial Institutions - Overseas	17	5	13	3	0	3	0	2	7	52	23	818
Outright Forwards	24	24	30	2	21	2	12	4	2	122	97	9,316
Financial Institutions - Local	2	7	5	0	4	1	5	2	0	27	24	2,824
Financial Institutions - Overseas	21	14	23	1	14	1	7	2	2	84	56	4,314
Non-financial Institutions - Local	0	3	0	2	1	0	0	0	0	6	4	1,920
Non-financial Institutions - Overseas	1	0	2	0	1	0	0	0	0	5	13	258
FX Swaps	511	152	20	67	57	0	11	43	175	1,037	526	118,477
Financial Institutions - Local	72	2	9	0	4	0	0	2	0	87	39	20,884
Financial Institutions - Overseas	375	144	11	58	28	0	11	41	133	802	442	90,515
Non-financial Institutions - Local	56	0	0	1	0	0	0	0	0	58	5	3,887
Non-financial Institutions - Overseas	8	7	0	8	26	0	0	0	42	90	41	3,191
Currency Swaps	0	1	0	0	1	0	0	0	0	2	0	3,360
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	819
Financial Institutions - Overseas	0	1	0	0	0	0	0	0	0	2	0	2,019
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	321
Non-financial Institutions - Overseas	0	0	0	0	1	0	0	0	0	1	0	202
OTC Options	5	8	7	0	1	0	0	0	2	24	7	2,128
Financial Institutions - Local	0	0	3	0	0	0	0	0	0	3	0	171
Financial Institutions - Overseas	5	5	4	0	1	0	0	0	2	18	6	1,277
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	484
Non-financial Institutions - Overseas	0	3	0	0	0	0	0	0	0	3	1	196
Total EUR Turnover^c	1,354	900	296	195	209	45	131	140	247	3,518	2,161	175,732