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Foreign Exchange Turnover Report – October 2017

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$m)
  Oct 2017 Apr 2017
  US$m US$m
a Adjusted for reporting dealer double counting. Daily average for October 2017 calculated on 21 trading days (April 2017 calculated on 17 trading days).

b Totals and sub-totals may not sum due to rounding.
Outright Spot 28,509 26,968
Outright Forwards 9,502 11,185
FX Swaps 69,946 83,580
TRADITIONAL FOREIGN EXCHANGE TURNOVER 107,958 121,734
Currency Swaps 2,104 2,814
OTC Options 1,225 1,204
TOTAL TURNOVER 111,286 125,752
Table 2: Foreign Exchange Turnover by Instrument and Counterpartya,b Daily average (US$m)
  Oct 2017 Apr 2017
  US$m US$m
a Adjusted for reporting dealer double counting. Daily average for October 2017 calculated on 21 trading days (April 2017 calculated on 17 trading days).

b Sub-totals may not sum due to rounding.
Outright Spot 28,509 26,968
Financial Institutions - Local 4,024 4,517
Financial Institutions - Overseas 23,252 21,470
Non-financial Institutions - Local 895 848
Non-financial Institutions - Overseas 338 134
Outright Forwards 9,502 11,185
Financial Institutions - Local 2,919 3,762
Financial Institutions - Overseas 5,054 5,248
Non-financial Institutions - Local 741 691
Non-financial Institutions - Overseas 789 1,485
FX Swaps 69,946 83,580
Financial Institutions - Local 14,652 17,644
Financial Institutions - Overseas 54,281 64,792
Non-financial Institutions - Local 724 860
Non-financial Institutions - Overseas 289 283
Currency Swaps 2,104 2,814
Financial Institutions - Local 628 972
Financial Institutions - Overseas 1,442 1,833
Non-financial Institutions - Local 27 4
Non-financial Institutions - Overseas 6 4
OTC Options 1,225 1,204
Financial Institutions - Local 45 78
Financial Institutions - Overseas 980 981
Non-financial Institutions - Local 182 122
Non-financial Institutions - Overseas 18 24
Table 3: Foreign Exchange Turnover by Currencya,b Daily average (US$m)
  Oct 2017 Proportion of Totalb Apr 2017 Proportion of Totalb
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for October 2017 calculated on 21 trading days (April 2017 calculated on 17 trading days).

b Proportions sum to 200% as there are two currencies involved in each transaction.
AUD 49,905 45 60,843 48
USD 101,697 91 116,417 93
EUR 16,379 15 19,162 15
OTHER CURRENCIES 54,592 49 55,082 44
TOTAL 111,286   125,752  
Table 4: Foreign Exchange Turnover by Currency Paira Daily average (US$m)
  Oct 2017 Proportion of Total Apr 2017 Proportion of Total
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for October 2017 calculated on 21 trading days (April 2017 calculated on 17 trading days).

b Totals may not sum due to rounding.
AUD/USD 43,521 39 54,431 43
AUD/EUR 1,471 1 1,406 1
AUD/JPY 1,798 2 1,841 1
AUD/GBP 826 1 808 1
AUD/CHF 90 0 138 0
AUD/CAD 278 0 420 0
AUD/NZD 1,351 1 1,200 1
AUD/SEK 83 0 37 0
AUD/OTHER ASIAN 402 0 431 0
AUD/OTHER EUROPEAN 20 0 35 0
AUD/OTHER 65 0 49 0
EUR/USD 13,174 12 15,970 13
USD/JPY 14,442 13 16,041 13
USD/GBP 5,669 5 6,717 5
USD/CHF 743 1 702 1
USD/CAD 2,513 2 2,354 2
USD/NZD 13,098 12 11,392 9
USD/SEK 115 0 188 0
USD/OTHER ASIAN 6,761 6 6,208 5
USD/OTHER EUROPEAN 382 0 266 0
USD/OTHER 1,279 1 2,149 2
EUR/JPY 361 0 622 0
EUR/GBP 350 0 248 0
EUR/CHF 75 0 59 0
EUR/CAD 130 0 115 0
EUR/NZD 253 0 207 0
EUR/SEK 220 0 174 0
EUR/OTHER ASIAN 60 0 54 0
EUR/OTHER EUROPEAN 220 0 257 0
EUR/OTHER 67 0 49 0
RESIDUAL CURRENCIES 1,472 1 1,184 1
TOTALb 111,286   125,752  
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 2017 calculated on 21 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 3,089 6,399 194
Against AUD 1,607 3,783 65
Against USDc 1,321 2,327 116
Against EURc 23 46 13
OTHER CURRENCIES 138 243 1
FX Swaps 63,873 16,004 261
Against AUD 29,606 6,951 147
Against USDc 33,706 8,685 110
Against EURc 235 175 3
OTHER CURRENCIES 327 192 1
Currency Swaps 4 601 1,985
Against AUD 4 571 1,603
Against USDc 0 30 382
Against EURc 0 0 0
OTHER CURRENCIES 0 0 0
OTC Options 211 896 149
Against AUD 71 406 67
Against USDc 134 483 81
Against EURc 6 6 2
OTHER CURRENCIES 0 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 October 2017 calculated on 21 trading days.

b Totals and sub-totals may not sum due to rounding.
Outright Spot 8,849 500 472 248 20 113 670 17 105 3 23 11,021
Financial Institutions - Local 1,929 109 94 76 10 35 99 3 76 1 11 2,442
Financial Institutions - Overseas 6,189 313 369 148 8 69 538 1 12 0 6 7,653
Non-financial Institutions - Local 665 76 7 24 3 9 31 13 16 1 5 851
Non-financial Institutions - Overseas 66 3 1 0 0 1 3 0 1 0 0 74
Outright Forwards 3,687 447 314 301 34 101 167 51 239 8 8 5,357
Financial Institutions - Local 1,608 254 172 224 26 68 69 12 129 5 5 2,573
Financial Institutions - Overseas 1,046 132 125 47 7 25 87 26 36 2 1 1,534
Non-financial Institutions - Local 502 61 17 30 1 8 10 13 59 0 2 705
Non-financial Institutions - Overseas 530 0 0 0 0 0 1 0 15 0 0 545
FX Swaps 28,945 489 988 275 35 64 361 15 52 10 12 31,246
Financial Institutions - Local 7,542 313 553 215 26 34 102 12 39 8 10 8,854
Financial Institutions - Overseas 20,853 135 353 53 7 24 224 2 5 1 0 21,657
Non-financial Institutions - Local 540 41 10 7 2 6 28 0 8 1 2 645
Non-financial Institutions - Overseas 10 0 73 0 0 0 7 0 0 0 0 90
Currency Swaps 1,720 6 16 0 0 0 5 0 0 0 0 1,747
Financial Institutions - Local 571 0 0 0 0 0 2 0 0 0 0 573
Financial Institutions - Overseas 1,140 5 0 0 0 0 0 0 0 0 0 1,145
Non-financial Institutions - Local 7 1 16 0 0 0 0 0 0 0 0 23
Non-financial Institutions - Overseas 3 0 0 0 0 0 3 0 0 0 0 6
OTC Options 320 29 8 2 0 0 148 0 6 0 22 534
Financial Institutions - Local 5 3 1 1 0 0 6 0 0 0 0 16
Financial Institutions - Overseas 182 24 6 0 0 0 134 0 6 0 0 352
Non-financial Institutions - Local 133 2 0 1 0 0 7 0 0 0 22 166
Non-financial Institutions - Overseas 0 0 0 0 0 0 1 0 0 0 0 1
Total AUD Turnover 43,521 1,471 1,798 826 90 278 1,351 83 402 20 65 49,905
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 2017 calculated on 21 trading days.

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

c USD turnover excludes AUD/USD turnover.
Outright Spot 3,284 2,811 1,314 249 656 3,362 41 3,502 209 249 15,677
Financial Institutions - Local 334 263 172 63 72 203 8 203 9 17 1,344
Financial Institutions - Overseas 2,872 2,514 1,115 185 563 3,110 31 3,257 195 225 14,067
Non-financial Institutions - Local 8 2 3 0 5 9 0 10 0 3 40
Non-financial Institutions - Overseas 70 32 24 1 17 40 1 32 4 4 225
Outright Forwards 473 334 164 47 139 965 9 1,440 78 37 3,687
Financial Institutions - Local 47 43 24 11 13 31 5 131 6 6 316
Financial Institutions - Overseas 405 287 133 36 120 729 4 1,287 72 28 3,099
Non-financial Institutions - Local 6 4 3 0 3 6 0 8 1 1 32
Non-financial Institutions - Overseas 15 1 4 0 3 199 0 15 0 1 239
FX Swaps 9,185 11,198 4,160 421 1,683 8,394 65 1,586 95 990 37,778
Financial Institutions - Local 1,365 1,301 901 83 218 1,472 8 204 28 78 5,656
Financial Institutions - Overseas 7,760 9,864 3,252 337 1,438 6,861 58 1,372 68 912 31,921
Non-financial Institutions - Local 9 28 4 0 11 10 0 6 0 0 68
Non-financial Institutions - Overseas 51 6 3 1 17 50 0 4 0 1 132
Currency Swaps 56 4 28 2 0 234 0 33 0 0 357
Financial Institutions - Local 0 0 0 0 0 55 0 0 0 0 55
Financial Institutions - Overseas 56 4 24 2 0 179 0 33 0 0 298
Non-financial Institutions - Local 0 0 4 0 0 0 0 0 0 0 4
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0
OTC Options 175 95 2 24 34 144 0 199 0 3 677
Financial Institutions - Local 9 4 1 2 1 4 0 6 0 0 27
Financial Institutions - Overseas 165 87 1 22 33 120 0 191 0 0 619
Non-financial Institutions - Local 1 4 0 0 0 6 0 2 0 3 15
Non-financial Institutions - Overseas 0 0 0 0 0 15 0 0 0 0 15
Total USD Turnover 13,174 14,442 5,669 743 2,513 13,098 115 6,761 382 1,279 58,176
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 2017 calculated on 21 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 251 256 64 67 84 218 30 211 53 1,233 578 28,509
Financial Institutions - Local 50 19 16 3 8 7 1 15 0 117 120 4,024
Financial Institutions - Overseas 200 232 48 63 72 206 28 185 51 1,087 445 23,252
Non-financial Institutions - Local 0 1 0 0 0 0 0 0 0 2 2 895
Non-financial Institutions - Overseas 1 4 0 1 4 5 1 10 1 27 12 338
Outright Forwards 12 6 7 14 14 2 19 8 1 81 377 9,502
Financial Institutions - Local 0 1 0 1 5 0 1 0 0 7 22 2,919
Financial Institutions - Overseas 11 4 7 13 8 2 18 8 0 70 350 5,054
Non-financial Institutions - Local 0 0 0 1 0 0 0 0 0 1 3 741
Non-financial Institutions - Overseas 0 0 0 0 1 0 0 0 0 2 2 789
FX Swaps 94 88 4 49 147 0 11 1 14 408 515 69,946
Financial Institutions - Local 15 1 0 0 43 0 8 0 0 68 75 14,652
Financial Institutions - Overseas 79 86 3 49 102 0 2 0 12 332 370 54,281
Non-financial Institutions - Local 0 0 0 0 1 0 1 1 0 3 7 724
Non-financial Institutions - Overseas 0 1 1 0 1 0 0 0 2 4 63 289
Currency Swaps 0 0 0 0 0 0 0 0 0 0 0 2,104
Financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 628
Financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 1,442
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 27
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 6
OTC Options 4 0 0 0 8 0 0 0 0 12 1 1,225
Financial Institutions - Local 1 0 0 0 0 0 0 0 0 1 0 45
Financial Institutions - Overseas 3 0 0 0 5 0 0 0 0 8 0 980
Non-financial Institutions - Local 0 0 0 0 1 0 0 0 0 1 1 182
Non-financial Institutions - Overseas 0 0 0 0 2 0 0 0 0 2 0 18
Total EUR Turnover 361 350 75 130 253 220 60 220 67 1,734 1,472 111,286