Foreign Exchange Turnover Report – October 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$m)
	Oct 2012	Apr 2012	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2012 calculated on 22 trading days (April 2012 calculated on 18 trading days). b Totals and sub-totals may not sum due to rounding.

Outright Spot	42,065	42,416	−351	−1
Outright Forwards	9,249	9,309	−60	−1
FX Swaps	128,459	118,382	10,077	9
TRADITIONAL FOREIGN EXCHANGE TURNOVER^b	179,773	170,107	9,666	6
Currency Swaps	4,198	3,358	840	25
OTC Options	2,045	2,126	−81	−4
TOTAL TURNOVER	186,016	175,591	10,425	6

Table 2: Foreign Exchange Turnover by Instrument and Counterparty^a,b Daily average (US$m)
	Oct 2012	Apr 2012	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2012 calculated on 22 trading days (April 2012 calculated on 18 trading days). b Sub-totals may not sum due to rounding.

Outright Spot	42,065	42,416	−351	−1
Financial Institutions - Local	5,790	6,741	−950	−14
Financial Institutions - Overseas	31,247	30,266	981	3
Non-financial Institutions - Local	4,328	4,592	−264	−6
Non-financial Institutions - Overseas	700	817	−118	−14
Outright Forwards	9,249	9,309	−60	−1
Financial Institutions - Local	2,810	2,822	−12	0
Financial Institutions - Overseas	3,407	4,311	−903	−21
Non-financial Institutions - Local	1,503	1,918	−415	−22
Non-financial Institutions - Overseas	1,529	258	1,271	493
FX Swaps	128,459	118,382	10,077	9
Financial Institutions - Local	24,511	20,867	3,644	17
Financial Institutions - Overseas	96,607	90,442	6,165	7
Non-financial Institutions - Local	4,123	3,884	239	6
Non-financial Institutions - Overseas	3,219	3,189	30	1
Currency Swaps	4,198	3,358	840	25
Financial Institutions - Local	1,567	818	749	92
Financial Institutions - Overseas	2,040	2,017	23	1
Non-financial Institutions - Local	246	320	−75	−23
Non-financial Institutions - Overseas	344	202	143	71
OTC Options	2,045	2,126	−81	−4
Financial Institutions - Local	298	171	127	74
Financial Institutions - Overseas	1,314	1,276	37	3
Non-financial Institutions - Local	297	483	−186	−38
Non-financial Institutions - Overseas	137	196	−59	−30

Table 3: Foreign Exchange Turnover by Currency^a Daily average (US$m)
	Oct 2012	Proportion of Total^b	Apr 2012	Proportion of Total^b
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2012 calculated on 22 trading days (April 2012 calculated on 18 trading days). b Proportions sum to 200% as there are two currencies involved in each transaction.

AUD	99,159	53	91,240	52
USD	170,772	92	159,929	91
EUR	30,373	16	29,191	17
OTHER CURRENCIES	71,728	39	70,822	40
TOTAL	186,016		175,591

Table 4: Foreign Exchange Turnover by Currency Pair^a Daily average (US$m)
	Oct 2012	Proportion of Total	Apr 2012	Proportion of Total
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2012 calculated on 22 trading days (April 2012 calculated on 18 trading days). b Totals may not sum due to rounding.

AUD/USD	89,454	48	81,253	46
AUD/EUR	2,338	1	2,303	1
AUD/JPY	2,670	1	3,054	2
AUD/GBP	1,308	1	1,606	1
AUD/CHF	203	0	129	0
AUD/CAD	759	0	684	0
AUD/NZD	1,359	1	1,240	1
AUD/SEK	82	0	44	0
AUD/OTHER ASIAN	778	0	740	0
AUD/OTHER EUROPEAN	78	0	58	0
AUD/OTHER	129	0	127	0
EUR/USD	24,556	13	23,372	13
USD/JPY	13,981	8	17,864	10
USD/GBP	9,032	5	8,955	5
USD/CHF	1,460	1	1,737	1
USD/CAD	5,935	3	5,357	3
USD/NZD	15,371	8	13,394	8
USD/SEK	483	0	405	0
USD/OTHER ASIAN	5,630	3	5,243	3
USD/OTHER EUROPEAN	899	0	572	0
USD/OTHER	3,969	2	1,776	1
EUR/JPY	1,309	1	1,353	1
EUR/GBP	919	0	899	1
EUR/CHF	221	0	296	0
EUR/CAD	317	0	195	0
EUR/NZD	232	0	209	0
EUR/SEK	35	0	45	0
EUR/OTHER ASIAN	119	0	131	0
EUR/OTHER EUROPEAN	119	0	140	0
EUR/OTHER	207	0	247	0
RESIDUAL CURRENCIES	2,060	1	2,160	1
TOTAL^b	186,016	0	175,591	0

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 October 2012 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.

Outright Forwards	3,806	5,557	120
Against AUD	2,361	3,850	59
Against USD^c	1,374	1,606	60
Against EUR^c	28	56	0
OTHER CURRENCIES	44	45	0
FX Swaps	115,239	26,321	453
Against AUD	64,193	15,840	198
Against USD^c	50,507	10,152	255
Against EUR^c	340	173	0
OTHER CURRENCIES	198	156	0
Currency Swaps	280	1,105	3,457
Against AUD	268	883	3,208
Against USD^c	12	213	243
Against EUR^c	0	0	5
OTHER CURRENCIES	0	9	0
OTC Options	793	1,341	52
Against AUD	429	976	39
Against USD^c	355	360	12
Against EUR^c	8	4	2
OTHER CURRENCIES	1	1	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 October 2012 calculated on 22 trading days. b Totals and sub-totals may not sum due to rounding.

Outright Spot	13,316	1,375	824	750	108	494	805	43	468	32	76	18,292
Financial Institutions - Local	2,129	182	104	147	9	68	153	13	71	4	7	2,886
Financial Institutions - Overseas	8,130	609	619	404	81	328	479	3	243	10	13	10,918
Non-financial Institutions - Local	2,890	575	86	195	18	93	159	28	144	19	55	4,261
Non-financial Institutions - Overseas	167	10	15	4	0	5	14	0	10	0	1	226
Outright Forwards	4,579	438	290	270	51	121	123	30	201	32	28	6,162
Financial Institutions - Local	1,370	231	156	175	26	61	33	21	123	18	15	2,229
Financial Institutions - Overseas	1,244	76	62	43	5	29	62	5	45	11	9	1,590
Non-financial Institutions - Local	994	126	71	51	19	31	24	4	32	3	4	1,359
Non-financial Institutions - Overseas	971	4	1	1	1	0	4	0	2	0	0	984
FX Swaps	66,738	447	1,527	244	44	141	347	8	97	11	25	69,630
Financial Institutions - Local	16,395	126	228	70	5	11	110	1	55	0	4	17,005
Financial Institutions - Overseas	46,896	178	831	109	31	108	166	4	24	2	8	48,358
Non-financial Institutions - Local	2,853	86	225	62	9	22	64	2	14	9	6	3,352
Non-financial Institutions - Overseas	594	57	243	2	0	0	8	0	4	0	7	914
Currency Swaps	3,655	32	0	28	0	0	42	0	0	0	0	3,757
Financial Institutions - Local	1,428	1	0	0	0	0	4	0	0	0	0	1,433
Financial Institutions - Overseas	1,767	17	0	0	0	0	18	0	0	0	0	1,803
Non-financial Institutions - Local	191	0	0	0	0	0	19	0	0	0	0	209
Non-financial Institutions - Overseas	269	14	0	28	0	0	0	0	0	0	0	312
OTC Options	1,166	46	30	16	0	3	42	0	12	3	0	1,319
Financial Institutions - Local	235	7	17	5	0	0	12	0	1	1	0	278
Financial Institutions - Overseas	590	38	12	8	0	3	22	0	9	2	0	683
Non-financial Institutions - Local	266	2	0	3	0	0	6	0	1	1	0	278
Non-financial Institutions - Overseas	76	0	2	0	0	0	2	0	0	0	0	80
Total AUD Turnover	89,454	2,338	2,670	1,308	203	759	1,359	82	778	78	129	99,159

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 October 2012 calculated on 22 trading days. b Totals and sub-totals may not sum due to rounding. c USD turnover excludes AUD/USD turnover.

Outright Spot	7,409	2,879	3,699	315	1,332	1,577	53	1,485	93	447	19,288
Financial Institutions - Local	929	358	425	50	228	283	8	137	7	26	2,451
Financial Institutions - Overseas	6,336	2,431	3,249	255	1,077	1,269	38	1,275	83	391	16,405
Non-financial Institutions - Local	16	5	3	0	9	5	0	21	1	4	63
Non-financial Institutions - Overseas	129	85	22	9	17	19	6	53	2	26	369
Outright Forwards	735	460	220	24	163	538	25	602	24	126	2,917
Financial Institutions - Local	167	45	34	2	41	48	2	175	4	33	552
Financial Institutions - Overseas	489	285	161	18	104	160	19	396	16	90	1,737
Non-financial Institutions - Local	26	8	7	4	7	35	0	5	0	0	92
Non-financial Institutions - Overseas	53	122	19	0	11	296	4	26	4	3	536
FX Swaps	15,881	10,461	5,019	1,121	4,434	12,943	405	3,537	783	3,393	57,976
Financial Institutions - Local	2,790	930	586	192	295	2,021	48	374	82	85	7,402
Financial Institutions - Overseas	12,532	8,810	4,104	920	4,105	10,231	129	3,098	499	3,250	47,678
Non-financial Institutions - Local	144	64	20	7	20	429	0	10	1	3	697
Non-financial Institutions - Overseas	415	658	310	1	14	262	228	55	200	56	2,199
Currency Swaps	128	27	22	0	4	245	0	1	0	0	426
Financial Institutions - Local	32	12	6	0	2	82	0	0	0	0	134
Financial Institutions - Overseas	76	15	14	0	2	115	0	1	0	0	223
Non-financial Institutions - Local	14	0	1	0	0	21	0	0	0	0	36
Non-financial Institutions - Overseas	6	0	1	0	0	26	0	0	0	0	33
OTC Options	403	155	72	0	3	69	0	5	0	3	711
Financial Institutions - Local	1	2	0	0	1	13	0	0	0	1	18
Financial Institutions - Overseas	364	149	56	0	1	43	0	5	0	0	618
Non-financial Institutions - Local	5	0	10	0	0	2	0	0	0	1	18
Non-financial Institutions - Overseas	34	3	5	0	1	11	0	1	0	1	57
Total USD Turnover^c	24,556	13,981	9,032	1,460	5,935	15,371	483	5,630	899	3,969	81,318

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 October 2012 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).

Outright Spot	1,072	800	215	265	170	29	97	109	122	2,879	1,607	42,065
Financial Institutions - Local	79	66	26	7	5	0	0	5	1	190	263	5,790
Financial Institutions - Overseas	958	723	189	256	163	28	96	99	104	2,615	1,309	31,247
Non-financial Institutions - Local	0	1	0	1	1	0	0	0	0	3	1	4,328
Non-financial Institutions - Overseas	36	9	0	1	2	0	1	5	17	71	34	700
Outright Forwards	29	9	3	3	24	0	9	2	3	82	88	9,249
Financial Institutions - Local	3	5	1	1	1	0	4	0	0	16	13	2,810
Financial Institutions - Overseas	26	4	2	3	2	0	4	1	3	44	36	3,407
Non-financial Institutions - Local	0	0	0	0	19	0	0	0	0	20	32	1,503
Non-financial Institutions - Overseas	0	0	0	0	1	0	0	0	0	2	7	1,529
FX Swaps	207	101	3	48	32	6	13	7	82	500	354	128,459
Financial Institutions - Local	47	12	3	7	0	0	2	6	0	76	27	24,511
Financial Institutions - Overseas	93	84	0	40	30	6	12	1	82	349	222	96,607
Non-financial Institutions - Local	65	5	0	1	0	0	0	0	0	71	3	4,123
Non-financial Institutions - Overseas	2	1	0	0	1	0	0	0	0	4	101	3,219
Currency Swaps	0	0	0	0	5	0	0	0	0	5	9	4,198
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	1,567
Financial Institutions - Overseas	0	0	0	0	5	0	0	0	0	5	9	2,040
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	246
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	344
OTC Options	0	9	0	0	1	0	0	2	0	13	3	2,045
Financial Institutions - Local	0	1	0	0	0	0	0	0	0	1	0	298
Financial Institutions - Overseas	0	8	0	0	1	0	0	2	0	11	2	1,314
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	1	297
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	137
Total EUR Turnover^c	1,309	919	221	317	232	35	119	119	207	3,479	2,060	186,016