Foreign Exchange Turnover Report – October 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 Instrument^a,b,c Daily average (US$m)
	Oct 2014	Apr 2014	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2014 calculated on 22 trading days (April 2014 calculated on 19 trading days). b Totals and sub-totals may not sum due to rounding. c Data are correct as at 27 January 2015 and are not subject to revision.

Outright Spot	43,687	42,807	880	2
Outright Forwards	11,766	11,057	709	6
FX Swaps	88,945	115,224	−26,279	−23
TRADITIONAL FOREIGN EXCHANGE TURNOVER^b	144,398	169,088	−24,690	−15
Currency Swaps	4,355	5,160	−805	−16
OTC Options	1,534	1,242	291	23
TOTAL TURNOVER	150,286	175,491	−25,204	−14

Table 2: Foreign Exchange Turnover by Instrument and Counterparty^a,b,c Daily average (US$m)
	Oct 2014	Apr 2014	Change over six months
	US$m	US$m	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2014 calculated on 22 trading days (April 2014 calculated on 19 trading days). b Sub-totals may not sum due to rounding. c Data are correct as at 27 January 2015 and are not subject to revision.

Outright Spot	43,687	42,807	880	2
Financial Institutions - Local	4,410	5,725	−1,315	−23
Financial Institutions - Overseas	36,936	34,284	2,652	8
Non-financial Institutions - Local	1,524	1,908	−384	−20
Non-financial Institutions - Overseas	817	890	−73	−8
Outright Forwards	11,766	11,057	709	6
Financial Institutions - Local	4,351	4,286	65	2
Financial Institutions - Overseas	5,158	4,372	786	18
Non-financial Institutions - Local	1,582	1,656	−74	−4
Non-financial Institutions - Overseas	675	743	−68	−9
FX Swaps	88,945	115,224	−26,279	−23
Financial Institutions - Local	19,616	28,878	−9,262	−32
Financial Institutions - Overseas	67,336	83,797	−16,461	−20
Non-financial Institutions - Local	681	1,061	−380	−36
Non-financial Institutions - Overseas	1,312	1,488	−176	−12
Currency Swaps	4,355	5,160	−805	−16
Financial Institutions - Local	1,493	1,490	2	0
Financial Institutions - Overseas	2,830	3,572	−741	−21
Non-financial Institutions - Local	24	78	−54	−69
Non-financial Institutions - Overseas	8	21	−12	−60
OTC Options	1,534	1,242	291	23
Financial Institutions - Local	115	86	29	34
Financial Institutions - Overseas	1,293	1,012	281	28
Non-financial Institutions - Local	93	108	−15	−14
Non-financial Institutions - Overseas	32	36	−4	−11

Table 3: Foreign Exchange Turnover by Currency^a,b Daily average (US$m)
	Oct 2014	Proportion of Total^c	Apr 2014	Proportion of Total^c
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2014 calculated on 22 trading days (April 2014 calculated on 19 trading days). b Data are correct as at 27 January 2015 and are not subject to revision. c Proportions sum to 200% as there are two currencies involved in each transaction.

AUD	75,853	50	89,990	51
USD	137,061	91	159,011	91
EUR	21,899	15	30,361	17
OTHER CURRENCIES	65,760	44	71,619	41
TOTAL	150,286		175,491

Table 4: Foreign Exchange Turnover by Currency Pair^a,b Daily average (US$m)
	Oct 2014	Proportion of Total	Apr 2014	Proportion of Total
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for October 2014 calculated on 22 trading days (April 2014 calculated on 19 trading days). b Data are correct as at 27 January 2015 and are not subject to revision. c Totals may not sum due to rounding.

AUD/USD	67,505	45	79,838	45
AUD/EUR	2,319	2	2,637	2
AUD/JPY	2,624	2	3,045	2
AUD/GBP	1,146	1	1,385	1
AUD/CHF	123	0	268	0
AUD/CAD	273	0	629	0
AUD/NZD	1,276	1	1,377	1
AUD/SEK	71	0	52	0
AUD/OTHER ASIAN	337	0	641	0
AUD/OTHER EUROPEAN	89	0	64	0
AUD/OTHER	89	0	53	0
EUR/USD	16,513	11	24,145	14
USD/JPY	17,048	11	16,428	9
USD/GBP	8,612	6	8,984	5
USD/CHF	1,404	1	1,744	1
USD/CAD	4,012	3	3,554	2
USD/NZD	15,093	10	14,891	8
USD/SEK	495	0	1,019	1
USD/OTHER ASIAN	3,988	3	5,440	3
USD/OTHER EUROPEAN	531	0	1,198	1
USD/OTHER	1,859	1	1,770	1
EUR/JPY	969	1	1,110	1
EUR/GBP	688	0	873	0
EUR/CHF	116	0	344	0
EUR/CAD	165	0	128	0
EUR/NZD	205	0	320	0
EUR/SEK	124	0	149	0
EUR/OTHER ASIAN	174	0	146	0
EUR/OTHER EUROPEAN	260	0	317	0
EUR/OTHER	366	0	193	0
RESIDUAL CURRENCIES	1,810	1	2,749	2
TOTALc	150,286		175,491

Table 5: Maturities by Instrument and Currency^a,b,c 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 October 2014 calculated on 22 trading days. b Totals may not sum due to rounding. c Data are correct as at 27 January 2015 and are not subject to revision. d ‘Against USD’ excludes AUD/USD turnover; ‘Against EUR’ excludes AUD/EUR and EUR/USD turnover.

Outright Forwards	4,249	7,712	149
Against AUD	2,857	5,362	74
Against USD^d	1,300	2,147	69
Against EUR^d	50	78	7
OTHER CURRENCIES	41	124	0
FX Swaps	88,494	15,381	240
Against AUD	50,301	9,203	117
Against USD^d	37,635	5,870	122
Against EUR^d	400	218	0
OTHER CURRENCIES	158	90	0
Currency Swaps	0	1,305	4,254
Against AUD	0	1,255	3,826
Against USD^d	0	46	428
Against EUR^d	0	0	0
OTHER CURRENCIES	0	4	0
OTC Options	288	1,219	122
Against AUD	156	618	81
Against USD^d	123	570	40
Against EUR^d	0	14	1
OTHER CURRENCIES	8	16	0

Table 6a: AUD Turnover by Instrument, Counterparty and Currency^a,b,c 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 2014 calculated on 19 trading days. b Totals and sub-totals may not sum due to rounding. c Data are correct as at 27 January 2015 and are not subject to revision.

Outright Spot	10,346	1,002	820	543	34	129	698	12	128	16	32	13,760
Financial Institutions - Local	1,313	183	96	102	13	15	110	4	40	8	17	1,902
Financial Institutions - Overseas	7,754	736	701	352	12	86	539	6	61	6	7	10,260
Non-financial Institutions - Local	1,178	74	18	89	9	28	44	1	26	1	7	1,476
Non-financial Institutions - Overseas	101	9	5	1	0	1	4	0	1	0	0	123
Outright Forwards	5,864	687	535	332	61	109	202	51	164	63	36	8,104
Financial Institutions - Local	2,298	462	314	200	55	72	52	35	127	41	21	3,676
Financial Institutions - Overseas	2,240	109	144	46	4	17	136	14	21	19	9	2,758
Non-financial Institutions - Local	1,108	112	77	86	2	20	12	2	16	3	6	1,445
Non-financial Institutions - Overseas	218	5	0	0	0	0	1	0	0	0	0	225
FX Swaps	46,775	560	1,228	242	27	33	294	9	45	10	20	49,244
Financial Institutions - Local	12,809	183	178	172	19	22	124	6	37	7	4	13,561
Financial Institutions - Overseas	33,329	291	661	40	7	5	151	1	2	2	13	34,502
Non-financial Institutions - Local	445	65	55	31	1	5	18	2	6	2	2	633
Non-financial Institutions - Overseas	192	21	334	0	0	0	2	0	0	0	0	548
Currency Swaps	3,903	36	0	19	0	0	2	0	1	0	0	3,960
Financial Institutions - Local	1,409	0	0	0	0	0	1	0	0	0	0	1,410
Financial Institutions - Overseas	2,490	14	0	19	0	0	1	0	1	0	0	2,524
Non-financial Institutions - Local	2	22	0	0	0	0	0	0	0	0	0	24
Non-financial Institutions - Overseas	3	0	0	0	0	0	0	0	0	0	0	3
OTC Options	616	33	41	10	0	2	80	0	0	0	2	784
Financial Institutions - Local	80	2	4	2	0	0	2	0	0	0	0	89
Financial Institutions - Overseas	470	25	29	6	0	0	74	0	0	0	1	604
Non-financial Institutions - Local	63	6	4	2	0	2	0	0	0	0	1	78
Non-financial Institutions - Overseas	3	0	5	0	0	0	5	0	0	0	0	13
Total AUD Turnover	67,505	2,319	2,624	1,146	123	273	1,276	71	337	89	89	75,853

Table 6b: USD Turnover by Instrument, Counterparty and Currency^a,b,c,d 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 2014 calculated on 19 trading days. b Totals and sub-totals may not sum due to rounding. c Data are correct as at 27 January 2015 and are not subject to revision. d USD turnover excludes AUD/USD turnover

Outright Spot	8,625	7,293	3,397	457	1,252	2,699	83	1,627	305	483	26,222
Financial Institutions - Local	564	613	454	36	151	254	3	166	5	14	2,260
Financial Institutions - Overseas	7,784	6,543	2,894	421	1,083	2,409	77	1,403	289	423	23,326
Non-financial Institutions - Local	12	3	3	0	2	8	0	15	0	3	45
Non-financial Institutions - Overseas	266	134	46	0	16	28	3	44	10	42	591
Outright Forwards	590	659	183	20	91	915	19	818	9	66	3,370
Financial Institutions - Local	153	97	34	7	15	66	11	184	0	4	570
Financial Institutions - Overseas	395	543	137	13	55	461	8	574	9	54	2,248
Non-financial Institutions - Local	21	13	10	0	20	12	0	38	0	7	121
Non-financial Institutions - Overseas	21	7	2	0	2	377	0	21	0	2	431
FX Swaps	6,921	8,908	4,934	924	2,655	11,114	394	1,492	217	1,297	38,857
Financial Institutions - Local	1,119	973	1,499	85	203	1,534	77	280	36	110	5,917
Financial Institutions - Overseas	5,681	7,752	3,394	837	2,422	9,331	301	1,204	141	1,124	32,187
Non-financial Institutions - Local	11	6	2	1	7	7	0	2	0	1	37
Non-financial Institutions - Overseas	110	177	39	0	23	241	15	5	41	62	715
Currency Swaps	57	18	82	0	6	223	0	4	0	0	391
Financial Institutions - Local	0	0	23	0	0	59	0	0	0	0	82
Financial Institutions - Overseas	56	18	60	0	5	164	0	3	0	0	307
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0
Non-financial Institutions - Overseas	1	0	0	0	0	0	0	1	0	0	2
OTC Options	319	169	15	3	8	142	0	47	0	13	716
Financial Institutions - Local	2	2	1	0	0	9	0	6	0	0	20
Financial Institutions - Overseas	312	168	13	3	8	116	0	40	0	3	663
Non-financial Institutions - Local	3	0	1	0	0	2	0	1	0	9	15
Non-financial Institutions - Overseas	2	0	0	0	0	15	0	0	0	1	19
Total USD Turnover^d	16,513	17,048	8,612	1,404	4,012	15,093	495	3,988	531	1,859	69,556

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	RESIDUALS	GRAND TOTAL^e
a Adjusted for reporting dealer double counting. Daily average for October 2014 calculated on 19 trading days. b Totals and sub-totals may not sum due to rounding. c Data are correct as at 27 January 2015 and are not subject to revision. d EUR turnover excludes AUD/EUR and EUR/USD turnover. e Grand total is the sum of AUD turnover (Table 6a), USD turnover (Table 6b), EUR turnover (Table 6c) and Residuals (Table 6c).

Outright Spot	702	602	107	126	104	110	137	257	175	2,320	1,385	43,687
Financial Institutions - Local	50	40	4	9	21	3	0	3	3	133	115	4,410
Financial Institutions - Overseas	640	544	103	116	81	103	135	244	156	2,123	1,227	36,936
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	1	2	1,524
Non-financial Institutions - Overseas	12	17	0	1	2	4	2	10	15	63	40	817
Outright Forwards	36	29	5	0	21	4	33	2	0	131	161	11,766
Financial Institutions - Local	4	5	1	0	14	0	20	0	0	44	62	4,351
Financial Institutions - Overseas	32	12	2	0	6	4	8	2	0	66	86	5,158
Non-financial Institutions - Local	0	12	1	0	1	0	0	0	0	14	2	1,582
Non-financial Institutions - Overseas	0	0	0	0	1	0	6	0	0	7	12	675
FX Swaps	226	53	4	38	78	9	4	2	191	606	238	88,945
Financial Institutions - Local	69	4	1	0	14	0	4	0	0	92	45	19,616
Financial Institutions - Overseas	125	49	3	38	45	9	0	2	185	456	191	67,336
Non-financial Institutions - Local	9	0	0	0	0	0	0	0	0	10	1	681
Non-financial Institutions - Overseas	23	1	0	0	18	0	0	0	7	49	1	1,312
Currency Swaps	0	0	0	0	0	0	0	0	0	0	4	4,355
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	1,493
Financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	2,830
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	24
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	4	8
OTC Options	5	4	0	0	2	0	0	0	0	11	22	1,534
Financial Institutions - Local	4	0	0	0	0	0	0	0	0	4	2	115
Financial Institutions - Overseas	1	4	0	0	1	0	0	0	0	6	20	1,293
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	93
Non-financial Institutions - Overseas	0	0	0	0	1	0	0	0	0	1	0	32
Total EUR Turnover^d	969	688	116	165	205	124	174	260	366	3,068	1,810	150,286