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Foreign Exchange Turnover Report – October 2016

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$m)
  Oct 2016 Apr 2016
  US$m US$m
a Adjusted for reporting dealer double counting. Daily average for October 2016 calculated on 20 trading days (April 2016 calculated on 20 trading days).

b Totals and sub-totals may not sum due to rounding.
Outright Spot 23,664 26,768
Outright Forwards 8,392 9,621
FX Swaps 90,148 80,681
TRADITIONAL FOREIGN EXCHANGE TURNOVERb 122,204 117,070
Currency Swaps 3,544 3,213
OTC Options 856 983
TOTAL TURNOVER 126,604 121,267
Table 2: Foreign Exchange Turnover by Instrument and Counterpartya,b Daily average (US$m)
  Oct 2016 Apr 2016
  US$m US$m
a Adjusted for reporting dealer double counting. Daily average for October 2016 calculated on 20 trading days (April 2016 calculated on 20 trading days).

b Sub-totals may not sum due to rounding.
Outright Spot 23,664 26,768
Financial Institutions - Local 3,558 3,385
Financial Institutions - Overseas 19,204 22,051
Non-financial Institutions - Local 732 1,201
Non-financial Institutions - Overseas 170 131
Outright Forwards 8,392 9,621
Financial Institutions - Local 2,757 2,856
Financial Institutions - Overseas 4,529 4,949
Non-financial Institutions - Local 472 1,215
Non-financial Institutions - Overseas 633 600
FX Swaps 90,148 80,681
Financial Institutions - Local 18,143 15,729
Financial Institutions - Overseas 70,774 63,399
Non-financial Institutions - Local 936 1,061
Non-financial Institutions - Overseas 295 492
Currency Swaps 3,544 3,213
Financial Institutions - Local 945 1,154
Financial Institutions - Overseas 2,473 1,973
Non-financial Institutions - Local 42 77
Non-financial Institutions - Overseas 83 9
OTC Options 856 983
Financial Institutions - Local 33 39
Financial Institutions - Overseas 719 851
Non-financial Institutions - Local 85 86
Non-financial Institutions - Overseas 19 7
Table 3: Foreign Exchange Turnover by Currencya Daily average (US$m)
  Oct 2016 Proportion of Totalb Apr 2016 Proportion of Totalb
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for October 2016 calculated on 20 trading days (April 2016 calculated on 20 trading days).

b Proportions sum to 200% as there are two currencies involved in each transaction.
AUD 60,476 48 56,068 46
USD 119,166 94 112,315 93
EUR 18,988 15 20,958 17
OTHER CURRENCIES 54,577 43 53,192 44
TOTAL 126,604   121,267  
Table 4: Foreign Exchange Turnover by Currency Paira Daily average (US$m)
  Oct 2016 Proportion of Total Apr 2016 Proportion of Total
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for October 2016 calculated on 20 trading days (April 2016 calculated on 20 trading days).

b Totals may not sum due to rounding.
AUD/USD 55,245 44 49,395 41
AUD/EUR 1,310 1 1,806 1
AUD/JPY 1,271 1 1,926 2
AUD/GBP 779 1 792 1
AUD/CHF 120 0 127 0
AUD/CAD 302 0 369 0
AUD/NZD 1,050 1 1,227 1
AUD/SEK 25 0 52 0
AUD/OTHER ASIAN 309 0 264 0
AUD/OTHER EUROPEAN 23 0 42 0
AUD/OTHER 42 0 49 0
EUR/USD 16,340 13 17,692 15
USD/JPY 13,235 10 14,771 12
USD/GBP 7,719 6 5,722 5
USD/CHF 716 1 436 0
USD/CAD 4,801 4 3,720 3
USD/NZD 12,375 10 11,694 10
USD/SEK 107 0 92 0
USD/OTHER ASIAN 7,652 6 7,597 6
USD/OTHER EUROPEAN 343 0 349 0
USD/OTHER 633 1 847 1
EUR/JPY 257 0 471 0
EUR/GBP 324 0 316 0
EUR/CHF 48 0 56 0
EUR/CAD 85 0 70 0
EUR/NZD 263 0 135 0
EUR/SEK 119 0 190 0
EUR/OTHER ASIAN 59 0 46 0
EUR/OTHER EUROPEAN 155 0 148 0
EUR/OTHER 28 0 28 0
RESIDUAL CURRENCIES 868 1 838 1
TOTALb 126,604   121,267  
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 October 2016 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 2,048 6,259 279
Against AUD 1,066 3,206 183
Against USDc 895 2,879 81
Against EURc 48 71 13
OTHER CURRENCIES 38 104 1
FX Swaps 91,538 14,028 211
Against AUD 46,804 7,565 64
Against USDc 44,546 6,096 137
Against EURc 115 193 9
OTHER CURRENCIES 74 175 1
Currency Swaps 16 1,584 2,780
Against AUD 0 1,273 2,278
Against USDc 16 312 498
Against EURc 0 0 4
OTHER CURRENCIES 0 0 0
OTC Options 212 589 79
Against AUD 88 266 4
Against USDc 111 308 75
Against EURc 11 10 0
OTHER CURRENCIES 2 5 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 October 2016 calculated on 20 trading days.

b Totals and sub-totals may not sum due to rounding.
Outright Spot 6,624 581 631 240 61 138 695 4 90 5 23 9,092
Financial Institutions - Local 1,086 111 47 51 14 37 100 1 44 2 6 1,498
Financial Institutions - Overseas 4,953 425 575 168 34 94 572 2 30 2 13 6,868
Non-financial Institutions - Local 558 44 7 20 14 7 22 0 15 1 3 692
Non-financial Institutions - Overseas 27 1 2 2 0 1 2 0 0 0 0 34
Outright Forwards 3,101 361 157 324 44 61 111 19 184 10 12 4,384
Financial Institutions - Local 1,309 212 101 275 34 42 54 12 117 8 9 2,172
Financial Institutions - Overseas 1,076 112 44 34 8 15 52 7 58 1 1 1,407
Non-financial Institutions - Local 342 38 12 15 2 4 5 1 9 1 1 430
Non-financial Institutions - Overseas 373 0 0 0 0 0 1 0 1 0 0 375
FX Swaps 42,501 343 477 199 12 95 214 1 34 9 8 43,893
Financial Institutions - Local 11,845 140 239 65 7 21 70 1 21 3 2 12,413
Financial Institutions - Overseas 29,666 182 232 124 4 67 117 0 8 4 5 30,410
Non-financial Institutions - Local 814 19 5 6 1 7 25 1 5 3 1 887
Non-financial Institutions - Overseas 176 3 0 3 0 0 1 0 0 0 0 184
Currency Swaps 2,751 7 0 0 3 0 0 0 0 0 0 2,761
Financial Institutions - Local 896 0 0 0 3 0 0 0 0 0 0 898
Financial Institutions - Overseas 1,783 7 0 0 0 0 0 0 0 0 0 1,790
Non-financial Institutions - Local 42 0 0 0 0 0 0 0 0 0 0 42
Non-financial Institutions - Overseas 31 0 0 0 0 0 0 0 0 0 0 31
OTC Options 267 18 6 17 0 8 29 0 2 0 0 347
Financial Institutions - Local 13 0 1 0 0 1 1 0 0 0 0 15
Financial Institutions - Overseas 184 16 5 16 0 7 28 0 0 0 0 256
Non-financial Institutions - Local 69 2 0 1 0 0 0 0 2 0 0 74
Non-financial Institutions - Overseas 1 0 0 0 0 0 0 0 0 0 0 1
Total AUD Turnover 55,245 1,310 1,271 779 120 302 1,050 25 309 23 42 60,476
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 October 2016 calculated on 20 trading days.

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

c USD turnover excludes AUD/USD turnover.
Outright Spot 2,540 2,532 1,404 152 922 1,900 18 3,346 113 282 13,210
Financial Institutions - Local 454 524 193 36 149 233 1 205 21 29 1,845
Financial Institutions - Overseas 2,057 1,982 1,201 115 764 1,645 17 3,102 87 247 11,217
Non-financial Institutions - Local 9 2 3 0 2 7 0 8 0 2 33
Non-financial Institutions - Overseas 20 24 8 1 7 15 0 31 5 4 115
Outright Forwards 292 259 132 32 57 676 17 2,222 11 50 3,748
Financial Institutions - Local 23 38 41 2 10 184 2 119 4 9 432
Financial Institutions - Overseas 262 215 87 20 43 243 15 2,094 5 39 3,022
Non-financial Institutions - Local 3 5 2 9 4 11 0 2 2 1 40
Non-financial Institutions - Overseas 5 2 2 0 0 238 0 6 0 0 254
FX Swaps 13,234 10,318 6,126 524 3,796 9,215 71 1,898 219 301 45,702
Financial Institutions - Local 1,430 1,156 761 44 266 1,670 4 164 22 27 5,544
Financial Institutions - Overseas 11,765 9,132 5,350 479 3,523 7,517 67 1,722 197 274 40,025
Non-financial Institutions - Local 7 15 3 0 3 5 0 10 0 1 44
Non-financial Institutions - Overseas 32 15 13 0 4 23 0 2 0 0 90
Currency Swaps 189 4 19 8 0 531 0 29 0 0 779
Financial Institutions - Local 0 0 0 0 0 46 0 0 0 0 46
Financial Institutions - Overseas 172 4 18 8 0 453 0 29 0 0 683
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0
Non-financial Institutions - Overseas 17 0 1 0 0 31 0 0 0 0 49
OTC Options 85 122 39 0 26 53 0 157 0 0 483
Financial Institutions - Local 2 8 2 0 2 1 0 3 0 0 17
Financial Institutions - Overseas 82 109 34 0 23 44 0 148 0 0 440
Non-financial Institutions - Local 2 0 0 0 0 1 0 5 0 0 8
Non-financial Institutions - Overseas 0 5 3 0 2 7 0 1 0 0 18
Total USD Turnoverc 16,340 13,235 7,719 716 4,801 12,375 107 7,652 343 633 63,921
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 October 2016 calculated on 20 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 165 223 33 58 104 106 30 138 26 883 478 23,664
Financial Institutions - Local 15 31 6 9 14 4 8 6 0 92 124 3,558
Financial Institutions - Overseas 148 185 27 49 89 99 20 125 25 769 350 19,204
Non-financial Institutions - Local 0 6 0 0 0 0 0 0 0 6 1 732
Non-financial Institutions - Overseas 2 2 0 0 1 3 2 7 1 17 4 170
Outright Forwards 13 3 0 23 57 0 28 2 0 126 134 8,392
Financial Institutions - Local 2 2 0 0 39 0 6 0 0 49 104 2,757
Financial Institutions - Overseas 11 1 0 22 17 0 19 1 0 72 28 4,529
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 1 2 472
Non-financial Institutions - Overseas 0 0 0 0 1 0 3 1 0 4 0 633
FX Swaps 77 92 14 4 85 12 1 16 2 304 249 90,148
Financial Institutions - Local 41 2 0 0 54 1 0 0 0 98 89 18,143
Financial Institutions - Overseas 36 90 14 4 19 12 0 16 0 191 147 70,774
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 2 2 4 936
Non-financial Institutions - Overseas 0 0 0 0 12 0 0 0 0 13 9 295
Currency Swaps 0 0 0 0 4 0 0 0 0 4 0 3,544
Financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 945
Financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 2,473
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 42
Non-financial Institutions - Overseas 0 0 0 0 4 0 0 0 0 4 0 83
OTC Options 2 5 0 0 13 0 0 0 0 20 6 856
Financial Institutions - Local 0 1 0 0 0 0 0 0 0 1 0 33
Financial Institutions - Overseas 2 4 0 0 13 0 0 0 0 19 5 719
Non-financial Institutions - Local 0 0 0 0 1 0 0 0 0 1 1 85
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 19
Total EUR Turnoverc 257 324 48 85 263 119 59 155 28 1,338 868 126,604