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Foreign Exchange Turnover Report – April 2014

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$m)
  Apr 2014 Oct 2013 Change over six months
  US$m US$m US$m %
a Adjusted for reporting dealer double counting. Daily average for April 2014 calculated on 19 trading days (October 2013 calculated on 22 trading days).

b Totals and sub-totals may not sum due to rounding.
Outright Spot 41,082 38,644 2,438 6
Outright Forwards 11,117 9,653 1,464 15
FX Swaps 109,213 116,199 −6,986 −6
TRADITIONAL FOREIGN EXCHANGE TURNOVERb 161,412 164,496 −3,084 −2
Currency Swaps 5,160 2,821 2,339 83
OTC Options 1,242 1,330 −88 −7
TOTAL TURNOVER 167,815 168,647 −832 0
Table 2: Foreign Exchange Turnover by Instrument and Counterpartya,b Daily average (US$m)
  Apr 2014 Oct 2013 Change over six months
  US$m US$m US$m %
a Adjusted for reporting dealer double counting. Daily average for April 2014 calculated on 19 trading days (October 2013 calculated on 22 trading days).

b Sub-totals may not sum due to rounding.
Outright Spot 41,082 38,644 2,438 6
Financial Institutions - Local 4,199 5,533 −1,334 −24
Financial Institutions - Overseas 34,109 30,758 3,351 11
Non-financial Institutions - Local 1,885 1,850 34 2
Non-financial Institutions - Overseas 890 503 387 77
Outright Forwards 11,117 9,653 1,464 15
Financial Institutions - Local 4,308 3,493 814 23
Financial Institutions - Overseas 4,387 3,783 604 16
Non-financial Institutions - Local 1,680 1,368 311 23
Non-financial Institutions - Overseas 743 1,009 −266 −26
FX Swaps 109,213 116,199 −6,986 −6
Financial Institutions - Local 23,973 20,509 3,464 17
Financial Institutions - Overseas 82,691 92,838 −10,147 −11
Non-financial Institutions - Local 1,061 957 105 11
Non-financial Institutions - Overseas 1,488 1,895 −408 −21
Currency Swaps 5,160 2,821 2,339 83
Financial Institutions - Local 1,490 824 667 81
Financial Institutions - Overseas 3,572 1,954 1,618 83
Non-financial Institutions - Local 78 42 35 84
Non-financial Institutions - Overseas 21 1 20 1,744
OTC Options 1,242 1,330 −88 −7
Financial Institutions - Local 86 91 −5 −6
Financial Institutions - Overseas 1,012 820 191 23
Non-financial Institutions - Local 108 212 −104 −49
Non-financial Institutions - Overseas 36 207 −170 −82
Table 3: Foreign Exchange Turnover by Currencya Daily average (US$m)
  Apr 2014 Proportion of Totalb Oct 2013 Proportion of Totalb
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for April 2014 calculated on 19 trading days (October 2013 calculated on 22 trading days).

b Proportions sum to 200% as there are two currencies involved in each transaction.
AUD 87,600 52 86,640 51
USD 151,604 90 153,456 91
EUR 28,415 17 33,014 20
OTHER CURRENCIES 68,011 41 64,184 38
TOTAL 167,815   168,647  
Table 4: Foreign Exchange Turnover by Currency Paira Daily average (US$m)
  Apr 2014 Proportion of Total Oct 2013 Proportion of Total
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for April 2014 calculated on 19 trading days (October 2013 calculated on 22 trading days).

b Totals may not sum due to rounding.
AUD/USD 77,587 46 77,624 46
AUD/EUR 2,606 2 2,185 1
AUD/JPY 3,034 2 3,066 2
AUD/GBP 1,354 1 1,102 1
AUD/CHF 258 0 227 0
AUD/CAD 607 0 433 0
AUD/NZD 1,359 1 1,254 1
AUD/SEK 52 0 59 0
AUD/OTHER ASIAN 627 0 594 0
AUD/OTHER EUROPEAN 64 0 45 0
AUD/OTHER 53 0 48 0
EUR/USD 22,313 13 27,211 16
USD/JPY 15,240 9 15,627 9
USD/GBP 8,555 5 9,030 5
USD/CHF 1,595 1 1,790 1
USD/CAD 3,319 2 2,955 2
USD/NZD 14,403 9 12,313 7
USD/SEK 844 1 511 0
USD/OTHER ASIAN 4,971 3 3,884 2
USD/OTHER EUROPEAN 1,120 1 698 0
USD/OTHER 1,656 1 1,814 1
EUR/JPY 1,102 1 910 1
EUR/GBP 847 1 911 1
EUR/CHF 332 0 320 0
EUR/CAD 116 0 264 0
EUR/NZD 317 0 468 0
EUR/SEK 148 0 82 0
EUR/OTHER ASIAN 138 0 254 0
EUR/OTHER EUROPEAN 302 0 195 0
EUR/OTHER 193 0 213 0
RESIDUAL CURRENCIES 2,702 2 2,557 2
TOTALb 167,815   168,647  
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 Not adjusted for reporting dealer double counting. Daily average for April 2014 calculated on 19 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 4,179 7,119 123
Against AUD 2,757 5,051 66
Against USDc 1,360 1,869 57
Against EURc 37 88 0
OTHER CURRENCIES 25 111 0
FX Swaps 105,655 21,389 316
Against AUD 64,287 10,623 117
Against USDc 40,832 10,384 199
Against EURc 421 158 0
OTHER CURRENCIES 116 223 0
Currency Swaps 499 1,881 3,985
Against AUD 457 1,649 3,730
Against USDc 41 232 246
Against EURc 0 0 9
OTHER CURRENCIES 0 0 0
OTC Options 380 865 60
Against AUD 147 455 40
Against USDc 231 396 17
Against EURc 0 13 2
OTHER CURRENCIES 2 1 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
EUROPEAN		 OTHER  TOTAL
a Adjusted for reporting dealer double counting. Daily average for April 2014 calculated on 19 trading days .

b Totals and sub-totals may not sum due to rounding.
Outright Spot 10,090 1,070 949 674 142 389 780 20 337 27 26 14,505
Financial Institutions - Local 1,366 211 47 94 33 111 145 2 45 9 7 2,069
Financial Institutions - Overseas 7,463 742 849 520 100 262 563 15 256 17 10 10,797
Non-financial Institutions - Local 1,206 107 31 58 9 15 67 2 35 2 8 1,541
Non-financial Institutions - Overseas 54 10 22 2 0 1 5 0 1 0 2 98
Outright Forwards 5,522 764 480 398 66 133 173 28 169 26 21 7,780
Financial Institutions - Local 2,257 563 232 287 53 101 48 26 104 17 11 3,700
Financial Institutions - Overseas 1,552 100 158 48 4 15 106 1 12 5 1 2,002
Non-financial Institutions - Local 1,208 98 89 63 9 17 16 2 53 4 8 1,567
Non-financial Institutions - Overseas 505 2 1 0 0 0 2 0 0 0 0 511
FX Swaps 56,929 628 1,588 225 49 84 350 4 118 11 7 59,993
Financial Institutions - Local 18,185 252 468 113 32 22 175 2 65 6 4 19,325
Financial Institutions - Overseas 37,793 289 809 67 16 52 121 0 35 2 1 39,185
Non-financial Institutions - Local 705 46 52 28 1 10 46 1 18 3 1 912
Non-financial Institutions - Overseas 246 42 258 16 0 0 9 0 0 0 0 571
Currency Swaps 4,542 109 0 44 0 0 4 0 1 0 0 4,700
Financial Institutions - Local 1,417 0 0 0 0 0 4 0 1 0 0 1,422
Financial Institutions - Overseas 3,085 58 0 44 0 0 0 0 0 0 0 3,187
Non-financial Institutions - Local 37 39 0 0 0 0 0 0 0 0 0 76
Non-financial Institutions - Overseas 3 11 0 0 0 0 0 0 0 0 0 15
OTC Options 504 35 16 13 0 0 51 0 2 0 0 622
Financial Institutions - Local 27 1 0 0 0 0 2 0 0 0 0 30
Financial Institutions - Overseas 367 29 15 12 0 0 49 0 2 0 0 474
Non-financial Institutions - Local 96 5 1 0 0 0 1 0 0 0 0 103
Non-financial Institutions - Overseas 15 0 0 0 0 0 0 0 0 0 0 16
Total AUD Turnover 77,587 2,606 3,034 1,354 258 607 1,359 52 627 64 53 87,600
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
EUROPEAN		 OTHER  TOTAL
a Adjusted for reporting dealer double counting. Daily average for April 2014 calculated on 19 trading days.

b Totals and sub-totals may not sum due to rounding.

c USD turnover excludes AUD/USD turnover.
Outright Spot 6,492 4,561 3,050 706 1,414 2,566 157 1,760 376 477 21,559
Financial Institutions - Local 436 368 324 80 179 292 3 149 11 13 1,856
Financial Institutions - Overseas 5,821 3,988 2,674 619 1,205 2,068 149 1,575 331 426 18,855
Non-financial Institutions - Local 24 74 6 8 9 13 0 20 1 6 162
Non-financial Institutions - Overseas 211 130 45 0 22 193 5 16 33 31 686
Outright Forwards 441 427 131 27 90 691 6 1,112 80 80 3,084
Financial Institutions - Local 46 46 28 4 17 60 1 244 39 17 503
Financial Institutions - Overseas 367 354 82 22 55 445 5 822 40 63 2,254
Non-financial Institutions - Local 18 11 18 1 14 11 0 32 1 0 106
Non-financial Institutions - Overseas 10 16 2 0 4 175 0 14 0 0 220
FX Swaps 15,173 10,119 5,323 852 1,784 10,677 681 1,948 665 1,098 48,320
Financial Institutions - Local 1,563 597 532 222 171 815 48 324 47 104 4,423
Financial Institutions - Overseas 13,277 9,464 4,789 629 1,598 9,623 410 1,623 541 912 42,868
Non-financial Institutions - Local 25 4 1 0 7 96 0 1 0 6 140
Non-financial Institutions - Overseas 307 54 1 0 7 143 223 0 77 76 889
Currency Swaps 45 37 30 0 0 290 0 50 0 0 452
Financial Institutions - Local 0 0 0 0 0 68 0 0 0 0 68
Financial Institutions - Overseas 44 37 27 0 0 222 0 46 0 0 377
Non-financial Institutions - Local 1 0 0 0 0 0 0 0 0 0 1
Non-financial Institutions - Overseas 0 0 3 0 0 0 0 3 0 0 6
OTC Options 162 96 20 10 31 179 0 101 0 1 602
Financial Institutions - Local 18 4 0 1 1 19 0 12 0 0 56
Financial Institutions - Overseas 142 92 20 9 30 139 0 88 0 1 520
Non-financial Institutions - Local 3 0 0 0 0 1 0 1 0 0 5
Non-financial Institutions - Overseas 0 0 0 0 0 20 0 0 0 0 21
Total USD Turnoverc 22,313 15,240 8,555 1,595 3,319 14,403 844 4,971 1,120 1,656 74,016
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
EUROPEAN		 OTHER  TOTAL RESIDUALS GRAND TOTALd
a Adjusted for reporting dealer double counting. Daily average for April 2014 calculated on 19 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 883 686 272 110 170 113 117 294 137 2,781 2,237 41,082
Financial Institutions - Local 46 41 36 2 8 1 0 1 1 137 137 4,199
Financial Institutions - Overseas 825 626 236 105 157 107 116 275 119 2,566 1,891 34,109
Non-financial Institutions - Local 0 0 0 0 1 0 0 0 0 2 180 1,885
Non-financial Institutions - Overseas 11 19 0 2 4 5 1 17 17 77 29 890
Outright Forwards 26 14 12 6 35 2 21 2 1 121 133 11,117
Financial Institutions - Local 1 5 1 0 24 0 18 0 0 49 55 4,308
Financial Institutions - Overseas 25 9 9 6 10 1 0 2 1 63 67 4,387
Non-financial Institutions - Local 0 1 2 0 0 1 0 0 0 5 2 1,680
Non-financial Institutions - Overseas 0 0 0 0 0 0 3 0 0 4 8 743
FX Swaps 191 133 48 1 104 33 0 6 55 571 330 109,213
Financial Institutions - Local 76 59 31 0 19 0 0 0 0 184 41 23,973
Financial Institutions - Overseas 108 72 17 0 67 33 0 6 51 354 284 82,691
Non-financial Institutions - Local 0 2 0 0 4 0 0 0 0 6 4 1,061
Non-financial Institutions - Overseas 7 1 0 0 15 0 0 0 3 27 1 1,488
Currency Swaps 1 0 0 0 8 0 0 0 0 9 0 5,160
Financial Institutions - Local 1 0 0 0 0 0 0 0 0 1 0 1,490
Financial Institutions - Overseas 0 0 0 0 8 0 0 0 0 8 0 3,572
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 78
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 21
OTC Options 1 13 0 0 0 0 0 0 0 15 3 1,242
Financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 86
Financial Institutions - Overseas 1 13 0 0 0 0 0 0 0 15 3 1,012
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 108
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 36
Total EUR Turnoverc 1,102 847 332 116 317 148 138 302 193 3,496 2,702 167,815