Foreign Exchange Turnover Report – April 2024

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 Daily average (US$m)
	Apr 2024	Oct 2023
	US$m	US$m
a Adjusted for reporting dealer double counting. Daily average for Apr 2024 calculated on 20 trading days (Oct 2023 calculated on 21 trading days). b Totals and sub-totals may not sum due to rounding.

Outright Spot	43,841	41,557
Outright Forwards	25,217	21,598
FX Swaps	86,305	86,086
TRADITIONAL FOREIGN EXCHANGE TURNOVER^b	155,364	149,241
Currency Swaps	4,005	4,267
OTC Options	1,019	821
TOTAL TURNOVER	160,388	154,330

Table 2: Foreign Exchange Turnover by Instrument and Counterparty^a,b Daily average (US$m)
	Apr 2024	Oct 2023
	US$m	US$m
a Adjusted for reporting dealer double counting. Daily average for Apr 2024 calculated on 20 trading days (Oct 2023 calculated on 21 trading days). b Totals and sub-totals may not sum due to rounding.

Outright Spot	43,841	41,557
Financial Institutions - Local	6,788	5,600
Financial Institutions - Overseas	35,530	34,507
Non-financial Institutions - Local	1,417	1,359
Non-financial Institutions - Overseas	106	91
Outright Forwards	25,217	21,598
Financial Institutions - Local	7,252	5,101
Financial Institutions - Overseas	15,286	14,538
Non-financial Institutions - Local	2,486	1,825
Non-financial Institutions - Overseas	193	132
FX Swaps	86,305	86,086
Financial Institutions - Local	24,807	24,951
Financial Institutions - Overseas	59,443	59,286
Non-financial Institutions - Local	1,379	1,353
Non-financial Institutions - Overseas	676	496
Currency Swaps	4,005	4,267
Financial Institutions - Local	1,192	1,564
Financial Institutions - Overseas	2,583	2,641
Non-financial Institutions - Local	69	42
Non-financial Institutions - Overseas	161	20
OTC Options	1,019	821
Financial Institutions - Local	96	50
Financial Institutions - Overseas	755	567
Non-financial Institutions - Local	128	179
Non-financial Institutions - Overseas	39	24

Table 3: Foreign Exchange Turnover by Currency^a Daily average (US$m)
	Apr 2024	Proportion of Total^b	Oct 2023	Proportion of Total^b
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for Apr 2024 calculated on 20 trading days (Oct 2023 calculated on 21 trading days). b Totals and sub-totals may not sum due to rounding.

AUD	77,650	48	79,175	51
USD	142,709	89	139,405	90
EUR	26,146	16	27,124	18
OTHER CURRENCIES	74,268	46	62,952	41
TOTAL	160,386		154,328

Table 4: Foreign Exchange Turnover by Currency Pair^a,b Daily average (US$m)
	Apr 2024	Proportion of Total	Oct 2023	Proportion of Total
	US$m	%	US$m	%
a Adjusted for reporting dealer double counting. Daily average for Apr 2024 calculated on 20 trading days (Oct 2023 calculated on 21 trading days). b Totals and sub-totals may not sum due to rounding.

AUD/USD	68,677	43	71,335	46
AUD/EUR	2,944	2	2,427	2
AUD/JPY	1,808	1	1,819	1
AUD/GBP	1,033	1	1,022	1
AUD/CHF	425	0	285	0
AUD/CAD	383	0	322	0
AUD/NZD	1,175	1	1,062	1
AUD/SEK	181	0	57	0
AUD/OTHER ASIAN	733	0	597	0
AUD/OTHER EUROPEAN	139	0	120	0
AUD/OTHER	151	0	130	0
EUR/USD	17,600	11	20,485	13
USD/JPY	11,253	7	9,785	6
USD/GBP	11,976	7	9,771	6
USD/CHF	1,734	1	2,018	1
USD/CAD	3,700	2	2,843	2
USD/NZD	12,140	8	10,767	7
USD/SEK	606	0	485	0
USD/OTHER ASIAN	12,879	8	10,048	7
USD/OTHER EUROPEAN	1,021	1	899	1
USD/OTHER	1,122	1	968	1
EUR/JPY	1,675	1	1,336	1
EUR/GBP	1,581	1	1,232	1
EUR/CHF	584	0	464	0
EUR/CAD	377	0	130	0
EUR/NZD	229	0	218	0
EUR/SEK	280	0	140	0
EUR/OTHER ASIAN	225	0	171	0
EUR/OTHER EUROPEAN	482	0	444	0
EUR/OTHER	170	0	76	0
RESIDUAL CURRENCIES	3,103	2	2,870	2
TOTAL^b	160,386		154,328

Table 5: Maturities by Instrument and Currency^a,b Daily average (US$m)
	One day	Over 1 day and up to 7 days	Seven days to one month	One month to three months	Three months to six months	Over six months
	US$m	US$m	US$m	US$m	US$m	US$m
a Not adjusted for reporting dealer double counting. Daily average for Apr 2024 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	4,052	4,553	5,124	8,302	2,677	1,282
Against AUD	2,273	2,465	3,167	5,028	1,743	599
Against USD^c	1,445	1,904	1,820	3,037	880	658
Against EUR^c	170	76	86	109	15	7
OTHER CURRENCIES	164	108	51	128	39	19
FX Swaps	48,532	34,381	6,186	9,928	3,673	2,573
Against AUD	22,470	16,392	3,196	5,458	2,111	1,501
Against USD^c	24,901	17,531	2,912	4,324	1,499	1,028
Against EUR^c	846	357	64	104	39	39
OTHER CURRENCIES	315	101	13	41	24	6
Currency Swaps	39	140	336	534	355	3,691
Against AUD	39	115	29	263	287	2,754
Against USD^c	0	25	306	271	0	937
Against EUR^c	0	0	0	0	0	0
OTHER CURRENCIES	0	0	0	0	68	0
OTC Options	9	121	215	271	118	346
Against AUD	4	68	100	103	73	141
Against USD^c	5	50	113	145	42	203
Against EUR^c	0	2	1	1	1	0
OTHER CURRENCIES	0	0	1	21	1	2

Table 6a: AUD Turnover by Instrument, Counterparty and Currency^a,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 2024 calculated on 20 trading days. b Totals and sub-totals may not sum due to rounding.

Outright Spot	14,246	859	472	279	56	87	430	120	194	56	63	16,860
Financial Institutions - Local	3,685	174	145	122	32	29	126	3	44	5	13	4,377
Financial Institutions - Overseas	9,472	599	317	120	21	48	253	116	121	49	44	11,159
Non-financial Institutions - Local	1,067	83	9	36	3	10	46	1	28	3	5	1,291
Non-financial Institutions - Overseas	23	3	1	0	0	0	4	0	1	0	0	33
Outright Forwards	11,786	696	686	429	318	177	215	31	359	54	70	14,822
Financial Institutions - Local	4,025	401	402	313	242	127	74	22	249	32	49	5,937
Financial Institutions - Overseas	5,980	209	178	60	36	31	112	5	84	20	20	6,735
Non-financial Institutions - Local	1,763	84	105	55	41	19	24	4	24	1	2	2,122
Non-financial Institutions - Overseas	18	3	1	0	0	0	4	0	2	0	0	28
FX Swaps	39,610	1,236	622	325	50	118	513	30	178	29	19	42,730
Financial Institutions - Local	11,452	765	307	163	13	62	182	23	95	18	12	13,093
Financial Institutions - Overseas	26,856	424	264	128	36	35	253	7	41	8	5	28,057
Non-financial Institutions - Local	868	47	51	32	1	20	65	1	41	3	2	1,129
Non-financial Institutions - Overseas	435	0	0	2	0	0	13	0	2	0	0	452
Currency Swaps	2,619	143	20	1	0	1	5	0	1	0	0	2,789
Financial Institutions - Local	777	11	10	1	0	0	1	0	1	0	0	800
Financial Institutions - Overseas	1,677	99	6	0	0	0	4	0	0	0	0	1,785
Non-financial Institutions - Local	24	33	4	0	0	1	0	0	0	0	0	62
Non-financial Institutions - Overseas	141	0	0	0	0	0	0	0	0	0	0	141
OTC Options	416	9	7	1	1	1	13	0	1	0	0	449
Financial Institutions - Local	43	0	0	0	0	0	1	0	0	0	0	44
Financial Institutions - Overseas	278	4	6	0	1	1	12	0	0	0	0	303
Non-financial Institutions - Local	90	4	1	0	0	0	0	0	1	0	0	96
Non-financial Institutions - Overseas	5	1	0	0	0	0	0	0	0	0	0	6
Total AUD Turnover	68,677	2,944	1,808	1,033	425	383	1,175	181	733	139	151	77,650

Table 6b: USD Turnover by Instrument, Counterparty and Currency^a,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 2024 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	3,859	4,295	2,449	875	1,136	2454	175	4,946	347	615	21,151
Financial Institutions - Local	489	511	360	89	157	195	9	297	27	85	2,219
Financial Institutions - Overseas	3,345	3,769	2,069	780	971	2,220	165	4,619	319	506	18,763
Non-financial Institutions - Local	20	12	19	6	7	8	1	5	1	23	101
Non-financial Institutions - Overseas	5	3	2	0	1	31	0	25	0	1	67
Outright Forwards	1,564	865	1,023	150	232	1,244	15	4,091	44	228	9,456
Financial Institutions - Local	162	121	152	36	44	55	4	653	5	28	1,260
Financial Institutions - Overseas	1,262	743	786	104	181	1,109	9	3,336	39	170	7,739
Non-financial Institutions - Local	116	1	81	10	4	48	2	32	0	25	320
Non-financial Institutions - Overseas	24	0	3	1	2	32	0	70	0	5	137
FX Swaps	11,856	5,624	8,363	709	2,275	7,992	413	3,626	607	238	41,703
Financial Institutions - Local	3,355	1,553	3,352	268	747	1,277	229	297	355	76	11,509
Financial Institutions - Overseas	8,390	4,044	4,969	440	1,505	6,611	184	3,237	246	161	29,787
Non-financial Institutions - Local	88	26	40	0	7	27	0	36	5	2	231
Non-financial Institutions - Overseas	23	0	2	0	16	77	1	56	1	0	175
Currency Swaps	293	364	116	0	43	305	3	33	23	2	1,182
Financial Institutions - Local	143	8	62	0	15	75	0	33	19	2	357
Financial Institutions - Overseas	149	347	54	0	15	224	3	0	3	0	798
Non-financial Institutions - Local	0	1	0	0	0	6	0	0	0	0	7
Non-financial Institutions - Overseas	0	7	0	0	13	0	0	0	0	0	20
OTC Options	29	105	26	0	14	145	0	183	0	39	539
Financial Institutions - Local	0	3	0	0	0	14	0	35	0	0	52
Financial Institutions - Overseas	28	102	26	0	14	111	0	109	0	36	425
Non-financial Institutions - Local	1	0	0	0	0	2	0	28	0	0	32
Non-financial Institutions - Overseas	0	0	0	0	0	17	0	10	0	2	30
Total USD Turnover^c	17,600	11,253	11,976	1,734	3,700	12,140	606	12,879	1,021	1,122	74,032

Table 6c: EUR Turnover by Instrument, Counterparty and Currency^a,b,c Daily average (US$m)
	EUR Against
	JPY	GBP	CHF	CAD	NZD	SEK	Oth ASIAN	Oth EUROP.	OTHER	TOTAL	RESIDUALS	GRAND TOTAL^d
a Adjusted for reporting dealer double counting. Daily average for Apr 2024 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	608	1,267	538	314	96	258	163	353	165	3,761	2,069	43,841
Financial Institutions - Local	44	48	8	2	6	11	2	23	4	147	45	6,788
Financial Institutions - Overseas	561	1,217	530	312	89	247	161	330	161	3,607	2,001	35,530
Non-financial Institutions - Local	3	1	1	0	1	0	0	0	0	6	20	1,417
Non-financial Institutions - Overseas	0	1	0	0	0	0	0	0	0	2	4	106
Outright Forwards	95	105	18	44	87	10	27	61	3	451	488	25,217
Financial Institutions - Local	4	10	4	1	4	1	0	0	0	24	32	7,252
Financial Institutions - Overseas	90	81	14	42	81	9	21	60	1	401	411	15,286
Non-financial Institutions - Local	0	12	0	0	0	0	0	0	0	13	31	2,486
Non-financial Institutions - Overseas	1	2	1	0	2	0	5	0	2	13	15	193
FX Swaps	969	208	27	19	46	13	35	68	2	1,386	486	86,305
Financial Institutions - Local	47	57	2	14	6	11	0	13	0	150	56	24,807
Financial Institutions - Overseas	888	142	25	5	38	1	33	55	0	1,187	412	59,443
Non-financial Institutions - Local	0	9	0	0	0	0	2	0	0	11	8	1,379
Non-financial Institutions - Overseas	34	1	0	0	2	0	0	0	1	39	10	676
Currency Swaps	0	0	0	0	0	0	0	0	0	0	34	4,005
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	34	1,192
Financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	2,583
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	69
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	0	161
OTC Options	3	0	1	0	0	0	0	0	0	4	26	1,019
Financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	96
Financial Institutions - Overseas	3	0	1	0	0	0	0	0	0	4	24	755
Non-financial Institutions - Local	0	0	0	0	0	0	0	0	0	0	0	128
Non-financial Institutions - Overseas	0	0	0	0	0	0	0	0	0	0	2	39
Total EUR Turnover^c	1,675	1,581	584	377	229	280	225	482	170	5,602	3,103	160,386