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Foreign Exchange Turnover Report – April 2020

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$m)
  Apr 2020 Oct 2019
  US$m US$m
a Adjusted for reporting dealer double counting. Daily average for Apr 2020 calculated on 20 trading days (Oct 2019 calculated on 22 trading days).

b Totals and sub-totals may not sum due to rounding.
Outright Spot 37,337 39,084
Outright Forwards 14,954 16,603
FX Swaps 73,627 79,397
TRADITIONAL FOREIGN EXCHANGE TURNOVERb 125,920 135,085
Currency Swaps 2,050 3,332
OTC Options 1,380 1,056
TOTAL TURNOVER 129,351 139,473
Table 2: Foreign Exchange Turnover by Instrument and Counterpartya,b Daily average (US$m)
  Apr 2020 Oct 2019
  US$m US$m
a Adjusted for reporting dealer double counting. Daily average for Apr 2020 calculated on 20 trading days (Oct 2019 calculated on 22 trading days).

b Totals and sub-totals may not sum due to rounding.
Outright Spot 37,337 39,084
Financial Institutions - Local 7,045 8,074
Financial Institutions - Overseas 29,129 29,964
Non-financial Institutions - Local 930 878
Non-financial Institutions - Overseas 233 168
Outright Forwards 14,954 16,603
Financial Institutions - Local 4,285 4,326
Financial Institutions - Overseas 9,703 11,078
Non-financial Institutions - Local 793 1,082
Non-financial Institutions - Overseas 173 117
FX Swaps 73,627 79,397
Financial Institutions - Local 20,864 24,811
Financial Institutions - Overseas 51,822 53,797
Non-financial Institutions - Local 779 635
Non-financial Institutions - Overseas 162 154
Currency Swaps 2,050 3,332
Financial Institutions - Local 592 642
Financial Institutions - Overseas 1,347 2,660
Non-financial Institutions - Local 89 20
Non-financial Institutions - Overseas 21 9
OTC Options 1,380 1,056
Financial Institutions - Local 371 189
Financial Institutions - Overseas 945 741
Non-financial Institutions - Local 59 119
Non-financial Institutions - Overseas 4 7
Table 3: Foreign Exchange Turnover by Currencya Daily average (US$m)
  Apr 2020 Proportion of Totalb Oct 2019 Proportion of Totalb
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for Apr 2020 calculated on 20 trading days (Oct 2019 calculated on 22 trading days).

b Totals and sub-totals may not sum due to rounding.
AUD 68,994 53 71,926 52
USD 120,731 93 130,210 93
EUR 16,620 13 18,750 13
OTHER CURRENCIES 52,352 40 58,057 42
TOTAL 129,349 139,471
Table 4: Foreign Exchange Turnover by Currency Paira,b Daily average (US$m)
  Apr 2020 Proportion of Total Oct 2019 Proportion of Total
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for Apr 2020 calculated on 20 trading days (Oct 2019 calculated on 22 trading days).

b Totals and sub-totals may not sum due to rounding.
AUD/USD 64,110 50 66,105 47
AUD/EUR 1,335 1 1,401 1
AUD/JPY 1,103 1 1,745 1
AUD/GBP 506 0 754 1
AUD/CHF 101 0 102 0
AUD/CAD 323 0 311 0
AUD/NZD 890 1 920 1
AUD/SEK 28 0 34 0
AUD/OTHER ASIAN 504 0 452 0
AUD/OTHER EUROPEAN 45 0 62 0
AUD/OTHER 49 0 40 0
EUR/USD 13,104 10 15,043 11
USD/JPY 16,111 12 14,178 10
USD/GBP 4,204 3 6,324 5
USD/CHF 909 1 1,056 1
USD/CAD 1,940 1 2,834 2
USD/NZD 11,762 9 13,549 10
USD/SEK 73 0 153 0
USD/OTHER ASIAN 7,187 6 8,987 6
USD/OTHER EUROPEAN 345 0 562 0
USD/OTHER 986 1 1,419 1
EUR/JPY 917 1 757 1
EUR/GBP 355 0 534 0
EUR/CHF 56 0 88 0
EUR/CAD 249 0 227 0
EUR/NZD 145 0 158 0
EUR/SEK 67 0 196 0
EUR/OTHER ASIAN 61 0 92 0
EUR/OTHER EUROPEAN 148 0 211 0
EUR/OTHER 182 0 42 0
RESIDUAL CURRENCIES 1,553 1 1,135 1
TOTALb 129,349 139,471
Table 5: Maturities by Instrument and Currencya,b Daily average (US$m)
  Seven days or less Seven days to one month One month to three months Three months to six months Over six months
  US$m US$m US$m US$m US$m
a Not adjusted for reporting dealer double counting. Daily average for Apr 2020 calculated on 20 trading days.

b Totals and sub-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 7,060 5,631 6,709 2,047 1,319
Against AUD 1,444 3,399 3,983 1,121 609
Against USDc 3,673 2,083 2,494 841 697
Against EURc 895 93 153 68 9
OTHER CURRENCIES 1,047 55 79 17 5
FX Swaps 63,388 14,673 18,129 5,458 2,305
Against AUD 34,527 6,356 9,936 2,996 1,291
Against USDc 28,628 8,213 7,850 2,347 1,008
Against EURc 206 78 285 68 1
OTHER CURRENCIES 27 26 57 46 5
Currency Swaps 54 258 263 264 2,955
Against AUD 0 0 227 264 2,637
Against USDc 54 235 36 0 299
Against EURc 0 0 0 0 16
OTHER CURRENCIES 0 23 0 0 3
OTC Options 75 684 813 238 695
Against AUD 40 244 413 153 223
Against USDc 33 406 377 85 256
Against EURc 1 29 19 0 213
OTHER CURRENCIES 2 4 4 0 4
Table 6a: AUD Turnover by Instrument, Counterparty and Currencya,b Daily average (US$m)
  AUD Against
  USD EUR JPY GBP CHF CAD NZD SEK Oth ASIAN Oth EUROP. OTHER TOTAL
a Adjusted for reporting dealer double counting. Daily average for Apr 2020 calculated on 20 trading days.

b Totals and sub-totals may not sum due to rounding.
Outright Spot 21,691 381 316 110 20 61 268 3 135 6 13 23,004
Financial Institutions - Local 4,069 179 67 61 13 33 79 2 87 4 6 4,601
Financial Institutions - Overseas 16,906 138 226 30 5 20 152 0 17 0 1 17,497
Non-financial Institutions - Local 673 61 22 19 2 7 34 0 31 1 5 856
Non-financial Institutions - Overseas 43 3 1 0 0 0 2 0 0 0 0 50
Outright Forwards 4,361 426 401 223 54 202 116 16 271 16 17 6,100
Financial Institutions - Local 2,243 312 171 163 45 74 25 11 181 12 7 3,243
Financial Institutions - Overseas 1,571 79 191 35 7 122 57 4 35 3 8 2,111
Non-financial Institutions - Local 503 34 35 25 2 6 27 0 54 1 2 690
Non-financial Institutions - Overseas 43 1 3 0 0 0 7 0 1 0 0 56
FX Swaps 36,009 405 361 164 21 61 452 10 68 19 20 37,590
Financial Institutions - Local 12,917 238 112 123 13 41 190 6 54 17 3 13,715
Financial Institutions - Overseas 22,506 107 209 18 6 15 229 3 2 0 15 23,112
Non-financial Institutions - Local 565 59 39 21 1 5 26 1 11 2 2 733
Non-financial Institutions - Overseas 20 0 1 1 0 0 8 0 0 0 0 30
Currency Swaps 1,571 81 21 1 0 0 8 0 19 4 0 1,704
Financial Institutions - Local 501 1 7 1 0 0 0 0 2 0 0 511
Financial Institutions - Overseas 1,039 20 14 0 0 0 8 0 3 0 0 1,083
Non-financial Institutions - Local 12 61 0 0 0 0 0 0 13 4 0 89
Non-financial Institutions - Overseas 19 0 0 0 0 0 0 0 2 0 0 21
OTC Options 479 42 4 7 6 0 46 0 12 0 0 596
Financial Institutions - Local 141 15 0 0 6 0 6 0 0 0 0 169
Financial Institutions - Overseas 296 23 3 3 0 0 39 0 2 0 0 365
Non-financial Institutions - Local 41 3 0 3 0 0 1 0 9 0 0 58
Non-financial Institutions - Overseas 1 0 1 1 0 0 0 0 0 0 0 4
Total AUD Turnover 64,110 1,335 1,103 506 101 323 890 28 504 45 49 68,994
Table 6b: USD Turnover by Instrument, Counterparty and Currencya,b,c Daily average (US$m)
  USD Against
  EUR JPY GBP CHF CAD NZD SEK Oth ASIAN Oth EUROP. OTHER TOTAL
a Adjusted for reporting dealer double counting. Daily average for Apr 2020 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 2,272 2,059 881 217 875 3985 19 2,610 121 446 13,486
Financial Institutions - Local 456 269 160 55 174 720 5 320 31 96 2,286
Financial Institutions - Overseas 1,764 1,757 690 162 685 3,238 13 2,217 88 341 10,958
Non-financial Institutions - Local 12 2 20 0 7 6 0 17 1 4 70
Non-financial Institutions - Overseas 40 31 11 0 8 20 0 57 0 4 172
Outright Forwards 1,661 1,231 397 210 266 386 23 2,195 107 195 6,671
Financial Institutions - Local 151 109 79 22 30 57 7 372 28 58 914
Financial Institutions - Overseas 1,443 1,120 297 186 219 301 15 1,792 71 104 5,548
Non-financial Institutions - Local 8 2 19 2 15 8 0 7 7 28 98
Non-financial Institutions - Overseas 58 1 1 0 2 20 0 24 0 5 111
FX Swaps 8,867 12,585 2,897 478 758 7,174 31 2,275 109 325 35,498
Financial Institutions - Local 2,578 1,655 641 118 186 1,414 15 316 67 68 7,059
Financial Institutions - Overseas 6,279 10,919 2,251 359 567 5,712 16 1,894 37 255 28,289
Non-financial Institutions - Local 8 1 4 2 4 3 0 12 4 1 38
Non-financial Institutions - Overseas 3 9 1 0 0 45 0 53 0 0 112
Currency Swaps 143 13 17 0 2 133 0 11 5 0 324
Financial Institutions - Local 54 0 7 0 0 6 0 0 2 0 68
Financial Institutions - Overseas 90 12 10 0 2 128 0 10 3 0 254
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 1 0 0 1
OTC Options 162 223 12 3 39 84 0 96 3 21 643
Financial Institutions - Local 93 24 2 1 13 38 0 12 0 4 187
Financial Institutions - Overseas 68 199 10 2 26 46 0 84 3 15 455
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 1 1
Total USD Turnoverc 13,104 16,111 4,204 909 1,940 11,762 73 7,187 345 986 56,621
Table 6c: EUR Turnover by Instrument, Counterparty and Currencya,b,c Daily average (US$m)
  EUR Against    
  JPY GBP CHF CAD NZD SEK Oth ASIAN Oth EUROP. OTHER TOTAL RESIDUALS GRAND TOTALd
a Adjusted for reporting dealer double counting. Daily average for Apr 2020 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 165 132 29 16 42 46 17 97 28 572 275 37,337
Financial Institutions - Local 26 33 8 5 5 7 3 15 1 102 55 7,045
Financial Institutions - Overseas 139 98 21 11 37 39 13 82 28 466 209 29,129
Non-financial Institutions - Local 0 0 0 0 0 0 1 0 0 2 2 930
Non-financial Institutions - Overseas 0 0 0 0 0 1 0 1 0 2 8 233
Outright Forwards 467 186 19 224 34 13 37 32 41 1,051 1,132 14,954
Financial Institutions - Local 11 9 0 4 5 4 2 17 5 58 70 4,285
Financial Institutions - Overseas 456 175 18 220 28 9 32 14 35 988 1,055 9,703
Non-financial Institutions - Local 0 1 0 0 0 0 2 0 0 4 2 793
Non-financial Institutions - Overseas 0 1 0 0 0 0 0 0 0 2 4 173
FX Swaps 274 24 2 9 68 9 5 20 8 418 122 73,627
Financial Institutions - Local 6 6 1 4 30 0 3 1 0 51 39 20,864
Financial Institutions - Overseas 268 16 2 5 38 9 1 19 8 364 58 51,822
Non-financial Institutions - Local 0 2 0 0 0 0 0 0 0 3 6 779
Non-financial Institutions - Overseas 0 0 0 0 1 0 0 0 0 1 19 162
Currency Swaps 0 7 0 0 0 0 1 0 0 9 14 2,050
Financial Institutions - Local 0 0 0 0 0 0 1 0 0 1 12 592
Financial Institutions - Overseas 0 7 0 0 0 0 1 0 0 8 2 1,347
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 89
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 21
OTC Options 12 6 6 0 1 0 1 0 105 131 10 1,380
Financial Institutions - Local 5 0 6 0 0 0 0 0 0 12 5 371
Financial Institutions - Overseas 6 6 0 0 1 0 1 0 105 119 6 945
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 59
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 4
Total EUR Turnoverc 917 355 56 249 145 67 61 148 182 2,181 1,553 129,349