Foreign Exchange Turnover Report – October 2013

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$m)
	Oct 2013	Apr 2013	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2013 calculated on 22 trading days (April 2013 calculated on 20 trading days). b Totals and sub-totals may not sum due to rounding.

Outright Spot	38,644	47,754	−9,110	−19
Outright Forwards	9,653	11,615	−1,962	−17
FX Swaps	116,199	115,243	956	1
TRADITIONAL FOREIGN EXCHANGE TURNOVER^b	164,496	174,612	−10,116	−6
Currency Swaps	2,821	4,466	−1,645	−37
OTC Options	1,330	2,629	−1,299	−49
TOTAL TURNOVER	168,647	181,707	−13,060	−7

Table 2: Foreign Exchange Turnover by Instrument and Counterparty^a,b Daily average (US$m)
	Oct 2013	Apr 2013	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2013 calculated on 22 trading days (April 2013 calculated on 20 trading days). b Sub-totals may not sum due to rounding.

Outright Spot	38,644	47,754	−9,110	−19
Financial Institutions - Local	5,533	7,250	−1,717	−24
Financial Institutions - Overseas	30,758	37,590	−6,833	−18
Non-financial Institutions - Local	1,850	2,148	−297	−14
Non-financial Institutions - Overseas	503	766	−263	−34
Outright Forwards	9,653	11,615	−1,962	−17
Financial Institutions - Local	3,493	3,811	−318	−8
Financial Institutions - Overseas	3,783	5,110	−1,327	−26
Non-financial Institutions - Local	1,368	1,453	−84	−6
Non-financial Institutions - Overseas	1,009	1,242	−233	−19
FX Swaps	116,199	115,243	956	1
Financial Institutions - Local	20,509	21,087	−579	−3
Financial Institutions - Overseas	92,838	89,201	3,636	4
Non-financial Institutions - Local	957	1,032	−75	−7
Non-financial Institutions - Overseas	1,895	3,922	−2,027	−52
Currency Swaps	2,821	4,466	−1,645	−37
Financial Institutions - Local	824	986	−162	−16
Financial Institutions - Overseas	1,954	3,351	−1,397	−42
Non-financial Institutions - Local	42	72	−30	−41
Non-financial Institutions - Overseas	1	58	−56	−98
OTC Options	1,330	2,629	−1,299	−49
Financial Institutions - Local	91	156	−65	−42
Financial Institutions - Overseas	820	2,100	−1,279	−61
Non-financial Institutions - Local	212	330	−118	−36
Non-financial Institutions - Overseas	207	43	164	382

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Table 3: Foreign Exchange Turnover by Currency^a Daily average (US$m)
	Oct 2013	Proportion of Total^b	Apr 2013	Proportion of Total^b
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2013 calculated on 22 trading days (April 2013 calculated on 20 trading days). b Proportions sum to 200% as there are two currencies involved in each transaction.

AUD	86,640	51	91,344	50
USD	153,456	91	164,332	90
EUR	33,014	20	26,571	15
OTHER CURRENCIES	64,184	38	81,167	45
TOTAL	168,647		181,707

Table 4: Foreign Exchange Turnover by Currency Pair^a Daily average (US$m)
	Oct 2013	Proportion of Total	Apr 2013	Proportion of Total
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2013 calculated on 22 trading days (April 2013 calculated on 20 trading days). b Totals may not sum due to rounding.

AUD/USD	77,624	46	80,511	44
AUD/EUR	2,185	1	2,516	1
AUD/JPY	3,066	2	2,850	2
AUD/GBP	1,102	1	2,290	1
AUD/CHF	227	0	203	0
AUD/CAD	433	0	559	0
AUD/NZD	1,254	1	1,500	1
AUD/SEK	59	0	62	0
AUD/OTHER ASIAN	594	0	644	0
AUD/OTHER EUROPEAN	45	0	118	0
AUD/OTHER	48	0	92	0
EUR/USD	27,211	16	20,613	11
USD/JPY	15,627	9	20,851	11
USD/GBP	9,030	5	8,975	5
USD/CHF	1,790	1	1,543	1
USD/CAD	2,955	2	4,068	2
USD/NZD	12,313	7	16,958	9
USD/SEK	511	0	858	0
USD/OTHER ASIAN	3,884	2	6,229	3
USD/OTHER EUROPEAN	698	0	958	1
USD/OTHER	1,814	1	2,769	2
EUR/JPY	910	1	1,329	1
EUR/GBP	911	1	741	0
EUR/CHF	320	0	192	0
EUR/CAD	264	0	192	0
EUR/NZD	468	0	257	0
EUR/SEK	82	0	78	0
EUR/OTHER ASIAN	254	0	165	0
EUR/OTHER EUROPEAN	195	0	101	0
EUR/OTHER	213	0	387	0
RESIDUAL CURRENCIES	2,557	2	3,100	2
TOTAL^b	168,647		181,707

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 2013 calculated on 22 trading days (April 2013 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	4,418	5,331	85
Against AUD	3,175	3,714	45
Against USD^c	1,167	1,464	40
Against EUR^c	37	63	0
OTHER CURRENCIES	39	90	0
FX Swaps	106,950	22,910	201
Against AUD	62,102	9,526	85
Against USD^c	44,232	13,008	112
Against EUR^c	495	291	0
OTHER CURRENCIES	122	85	4
Currency Swaps	195	696	2,498
Against AUD	192	550	2,211
Against USD^c	3	146	282
Against EUR^c	0	0	0
OTHER CURRENCIES	0	0	5
OTC Options	453	847	95
Against AUD	270	595	30
Against USD^c	171	226	59
Against EUR^c	10	11	6
OTHER CURRENCIES	2	15	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 2013 calculated on 22 trading days . b Totals and sub-totals may not sum due to rounding.

Outright Spot	11,123	831	776	632	122	295	776	26	380	26	26	15,012
Financial Institutions - Local	2,050	149	107	135	14	20	106	1	37	1	6	2,626
Financial Institutions - Overseas	7,688	466	650	408	105	236	619	23	316	23	14	10,547
Non-financial Institutions - Local	1,335	212	13	89	3	39	46	2	27	1	5	1,772
Non-financial Institutions - Overseas	50	3	6	0	0	0	5	0	0	0	1	66
Outright Forwards	5,107	524	408	281	56	89	158	24	138	12	15	6,814
Financial Institutions - Local	1,843	323	215	162	38	57	22	19	94	9	10	2,791
Financial Institutions - Overseas	1,772	94	140	48	8	14	105	3	33	1	2	2,220
Non-financial Institutions - Local	996	106	53	71	10	19	29	2	11	2	3	1,303
Non-financial Institutions - Overseas	496	1	0	0	0	0	2	0	0	0	0	500
FX Swaps	58,297	793	1,852	161	43	40	272	9	72	7	7	61,553
Financial Institutions - Local	14,365	243	342	80	16	19	133	7	47	5	4	15,262
Financial Institutions - Overseas	43,028	411	1,127	42	24	10	106	0	10	0	2	44,762
Non-financial Institutions - Local	674	76	21	31	2	10	32	2	15	1	2	867
Non-financial Institutions - Overseas	230	62	362	8	0	0	1	0	0	0	0	663
Currency Swaps	2,376	21	0	2	0	0	1	0	4	0	0	2,405
Financial Institutions - Local	780	1	0	1	0	0	0	0	1	0	0	785
Financial Institutions - Overseas	1,562	16	0	1	0	0	1	0	0	0	0	1,580
Non-financial Institutions - Local	32	4	0	0	0	0	0	0	2	0	0	39
Non-financial Institutions - Overseas	1	0	0	0	0	0	0	0	0	0	0	1
OTC Options	721	16	30	26	7	9	47	0	0	0	0	856
Financial Institutions - Local	39	2	2	7	0	0	14	0	0	0	0	63
Financial Institutions - Overseas	324	8	27	19	7	0	30	0	0	0	0	416
Non-financial Institutions - Local	185	6	0	1	0	9	3	0	0	0	0	204
Non-financial Institutions - Overseas	174	0	0	0	0	0	0	0	0	0	0	174
Total AUD Turnover	77,624	2,185	3,066	1,102	227	433	1,254	59	594	45	48	86,640

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 2013 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	5,490	4,104	3,077	578	990	2,176	73	1,479	222	473	18,662
Financial Institutions - Local	706	591	341	119	183	370	6	182	14	14	2,526
Financial Institutions - Overseas	4,637	3,443	2,693	456	776	1,773	61	1,278	197	418	15,733
Non-financial Institutions - Local	11	1	2	0	7	14	0	5	0	3	44
Non-financial Institutions - Overseas	136	68	41	3	23	19	6	13	11	38	358
Outright Forwards	419	403	182	30	106	985	5	413	11	61	2,615
Financial Institutions - Local	160	139	59	11	38	58	2	134	5	4	611
Financial Institutions - Overseas	214	256	90	18	55	510	2	252	6	45	1,448
Non-financial Institutions - Local	11	6	3	0	8	6	0	14	0	12	59
Non-financial Institutions - Overseas	34	2	31	0	5	411	0	13	0	0	497
FX Swaps	21,116	11,044	5,703	1,182	1,811	8,771	433	1,911	465	1,278	53,715
Financial Institutions - Local	1,354	755	863	172	138	1,193	26	217	35	157	4,909
Financial Institutions - Overseas	19,066	10,253	4,733	1,003	1,650	7,344	343	1,689	378	1,091	47,550
Non-financial Institutions - Local	11	14	3	1	18	11	0	5	0	2	64
Non-financial Institutions - Overseas	685	22	105	6	5	222	64	0	52	29	1,191
Currency Swaps	44	0	27	0	0	323	0	17	0	0	411
Financial Institutions - Local	0	0	0	0	0	39	0	0	0	0	39
Financial Institutions - Overseas	42	0	27	0	0	284	0	17	0	0	369
Non-financial Institutions - Local	3	0	0	0	0	0	0	0	0	0	3
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0
OTC Options	141	76	41	0	48	58	0	63	0	2	429
Financial Institutions - Local	1	8	3	0	0	4	0	12	0	0	28
Financial Institutions - Overseas	139	68	37	0	16	49	0	50	0	1	360
Non-financial Institutions - Local	1	0	0	0	2	1	0	2	0	1	8
Non-financial Institutions - Overseas	0	0	0	0	29	3	0	0	0	0	33
Total USD Turnover^c	27,211	15,627	9,030	1,790	2,955	12,313	511	3,884	698	1,814	75,831

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 2013 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	533	807	276	243	332	81	207	175	107	2,760	2,211	38,644
Financial Institutions - Local	25	89	33	4	7	3	14	6	1	181	199	5,533
Financial Institutions - Overseas	494	675	240	235	324	72	192	160	97	2,489	1,989	30,758
Non-financial Institutions - Local	0	29	3	1	0	0	0	0	0	33	1	1,850
Non-financial Institutions - Overseas	14	15	0	2	1	6	2	9	9	57	22	503
Outright Forwards	29	12	7	2	25	1	14	7	0	97	128	9,653
Financial Institutions - Local	1	3	0	0	15	0	9	0	0	29	63	3,493
Financial Institutions - Overseas	28	8	6	1	9	1	2	7	0	61	54	3,783
Non-financial Institutions - Local	0	1	0	1	1	0	0	0	0	3	3	1,368
Non-financial Institutions - Overseas	0	0	1	0	1	0	2	0	0	4	8	1,009
FX Swaps	339	85	32	20	106	0	33	13	106	734	196	116,199
Financial Institutions - Local	170	13	18	10	51	0	29	1	6	297	41	20,509
Financial Institutions - Overseas	127	71	14	9	47	0	4	12	101	384	142	92,838
Non-financial Institutions - Local	19	0	0	1	1	0	0	0	0	21	4	957
Non-financial Institutions - Overseas	24	1	0	0	7	0	0	0	0	32	9	1,895
Currency Swaps	0	0	0	0	0	0	0	0	0	0	5	2,821
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	824
Financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	5	1,954
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	42
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	1
OTC Options	10	7	6	0	5	0	0	0	0	28	17	1,330
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	91
Financial Institutions - Overseas	10	7	6	0	5	0	0	0	0	27	17	820
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	212
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	207
Total EUR Turnover^c	910	911	320	264	468	82	254	195	213	3,618	2,557	168,647