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Foreign Exchange Turnover Report – October 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 Instrumenta,b Daily average (US$m)
  Oct 2024 Apr 2024
  US$m US$m
a Adjusted for reporting dealer double counting. Daily average for Oct 2024 calculated on 22 trading days (Apr 2024 calculated on 20 trading days).

b Totals and sub-totals may not sum due to rounding.
Outright Spot 45,872 43,841
Outright Forwards 28,160 25,217
FX Swaps 101,240 86,305
TRADITIONAL FOREIGN EXCHANGE TURNOVERb 175,272 155,364
Currency Swaps 5,276 4,005
OTC Options 1,121 1,019
TOTAL TURNOVER 181,670 160,388
Table 2: Foreign Exchange Turnover by Instrument and Counterpartya,b Daily average (US$m)
  Oct 2024 Apr 2024
  US$m US$m
a Adjusted for reporting dealer double counting. Daily average for Oct 2024 calculated on 22 trading days (Apr 2024 calculated on 20 trading days).

b Totals and sub-totals may not sum due to rounding.
Outright Spot 45,872 43,841
Financial Institutions - Local 7,234 6,788
Financial Institutions - Overseas 37,279 35,530
Non-financial Institutions - Local 1,236 1,417
Non-financial Institutions - Overseas 122 106
Outright Forwards 28,160 25,217
Financial Institutions - Local 9,002 7,252
Financial Institutions - Overseas 17,158 15,286
Non-financial Institutions - Local 1,830 2,486
Non-financial Institutions - Overseas 170 193
FX Swaps 101,240 86,305
Financial Institutions - Local 33,480 24,807
Financial Institutions - Overseas 65,874 59,443
Non-financial Institutions - Local 1,206 1,379
Non-financial Institutions - Overseas 680 676
Currency Swaps 5,276 4,005
Financial Institutions - Local 1,340 1,192
Financial Institutions - Overseas 3,437 2,583
Non-financial Institutions - Local 75 69
Non-financial Institutions - Overseas 423 161
OTC Options 1,121 1,019
Financial Institutions - Local 100 96
Financial Institutions - Overseas 749 755
Non-financial Institutions - Local 214 128
Non-financial Institutions - Overseas 58 39
Table 3: Foreign Exchange Turnover by Currencya Daily average (US$m)
Oct 2024 Proportion of Totalb Apr 2024 Proportion of Totalb
  US$m % US$m %
a Adjusted for reporting dealer double counting. Daily average for Oct 2024 calculated on 22 trading days (Apr 2024 calculated on 20 trading days).

b As two currencies are involved in each transaction, the sum of shares in individual currencies will total 200%. Totals and sub-totals may not sum due to rounding.
AUD 80,020 44 77,650 48
USD 163,099 90 142,709 89
EUR 34,121 19 26,146 16
OTHER CURRENCIES 86,096 47 74,175 46
TOTAL 181,668   160,386  
Table 4: Foreign Exchange Turnover by Currency Paira,b Daily average (US$m)
  Oct 2024 Proportion of Total Apr 2024 Proportion of Total
  US$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 70,878 39 68,677 43
AUD/EUR 3,391 2 2,944 2
AUD/JPY 1,475 1 1,808 1
AUD/GBP 1,091 1 1,033 1
AUD/CHF 283 0 425 0
AUD/CAD 390 0 383 0
AUD/NZD 1,151 1 1,175 1
AUD/SEK 112 0 181 0
AUD/OTHER ASIAN 868 0 733 0
AUD/OTHER EUROPEAN 153 0 139 0
AUD/OTHER 227 0 151 0
EUR/USD 24,441 13 17,600 11
USD/JPY 15,128 8 11,253 7
USD/GBP 13,229 7 11,976 7
USD/CHF 1,683 1 1,734 1
USD/CAD 3,694 2 3,700 2
USD/NZD 19,589 11 12,140 8
USD/SEK 558 0 606 0
USD/OTHER ASIAN 11,690 6 12,879 8
USD/OTHER EUROPEAN 1,117 1 1,021 1
USD/OTHER 1,091 1 1,122 1
EUR/JPY 1,839 1 1,675 1
EUR/GBP 2,150 1 1,581 1
EUR/CHF 403 0 584 0
EUR/CAD 770 0 377 0
EUR/NZD 368 0 229 0
EUR/SEK 148 0 280 0
EUR/OTHER ASIAN 211 0 225 0
EUR/OTHER EUROPEAN 338 0 482 0
EUR/OTHER 62 0 170 0
RESIDUAL CURRENCIES 3,137 2 3,103 2
TOTALb 181,668   160,386
Table 5: Maturities by Instrument and Currencya,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 Oct 2024 calculated on 22 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 8,757 5,840 4,954 7,911 3,239 972
Against AUD 6,215 2,924 2,635 3,876 2,156 380
Against USDc 2,467 2,770 2,165 3,760 1,023 524
Against EURc 7 81 95 120 21 62
OTHER CURRENCIES 67 65 59 154 40 6
FX Swaps 61,590 41,977 7,652 10,095 5,104 1,751
Against AUD 22,473 13,960 4,401 4,401 2,899 890
Against USDc 37,764 27,582 3,174 5,585 2,093 827
Against EURc 990 321 41 49 64 29
OTHER CURRENCIES 364 113 36 60 48 5
Currency Swaps 61 69 196 647 990 4,492
Against AUD 61 32 70 373 903 3,768
Against USDc 0 37 124 274 87 712
Against EURc 0 0 0 0 0 0
OTHER CURRENCIES 0 0 1 0 0 13
OTC Options 60 150 172 310 170 342
Against AUD 19 78 67 159 100 208
Against USDc 41 72 105 139 69 134
Against EURc 0 0 0 0 0 0
OTHER CURRENCIES 0 0 0 11 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 Oth ASIAN Oth EUROP. OTHER TOTAL
a Adjusted for reporting dealer double counting. Daily average for Oct 2024 calculated on 22 trading days.

b Totals and sub-totals may not sum due to rounding.
Outright Spot 14,782 1,089 393 448 106 129 422 42 270 83 131 17,894
Financial Institutions - Local 3,967 280 156 285 19 31 105 4 66 6 5 4,925
Financial Institutions - Overseas 9,882 718 228 124 83 85 278 36 176 74 120 11,804
Non-financial Institutions - Local 916 90 9 38 4 12 37 1 28 2 6 1,144
Non-financial Institutions - Overseas 17 0 0 0 0 0 3 0 0 0 0 21
Outright Forwards 12,980 820 549 342 123 174 224 40 402 42 59 15,756
Financial Institutions - Local 5,199 459 278 239 112 120 95 15 322 19 35 6,892
Financial Institutions - Overseas 6,372 287 253 81 8 42 113 19 55 15 23 7,267
Non-financial Institutions - Local 1,400 70 18 16 4 12 13 6 23 8 1 1,570
Non-financial Institutions - Overseas 9 5 0 7 0 0 3 0 2 0 1 27
FX Swaps 38,445 1,354 492 287 54 84 486 30 177 29 15 41,451
Financial Institutions - Local 10,992 897 140 177 39 50 116 23 92 24 9 12,561
Financial Institutions - Overseas 26,363 393 300 95 14 22 314 3 48 3 1 27,556
Non-financial Institutions - Local 763 60 51 14 0 11 48 5 36 1 5 994
Non-financial Institutions - Overseas 326 3 0 1 0 1 8 0 0 0 0 339
Currency Swaps 4,132 109 40 14 0 3 2 0 19 0 0 4,320
Financial Institutions - Local 950 11 31 2 0 0 0 0 10 0 0 1,005
Financial Institutions - Overseas 2,770 73 8 4 0 0 2 0 4 0 0 2,861
Non-financial Institutions - Local 57 0 1 8 0 3 0 0 4 0 0 75
Non-financial Institutions - Overseas 355 25 0 0 0 0 0 0 0 0 0 380
OTC Options 539 19 1 0 0 0 17 0 1 0 21 599
Financial Institutions - Local 36 0 0 0 0 0 0 0 0 0 0 37
Financial Institutions - Overseas 327 11 1 0 0 0 17 0 0 0 0 357
Non-financial Institutions - Local 171 4 0 0 0 0 0 0 0 0 21 197
Non-financial Institutions - Overseas 4 3 0 0 0 0 0 0 0 0 0 8
Total AUD Turnover 70,878 3,391 1,475 1,091 283 390 1,151 112 868 153 227 80,020
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 Oct 2024 calculated on 22 trading days.

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

c USD turnover excludes AUD/USD turnover.
Outright Spot 3,708 3,619 2,740 309 1,118 4611 115 4,342 218 496 21,275
Financial Institutions - Local 557 333 387 57 174 182 10 336 33 43 2,112
Financial Institutions - Overseas 3,125 3,275 2,320 250 928 4,392 104 3,953 184 451 18,983
Non-financial Institutions - Local 21 1 26 1 15 8 0 15 0 2 89
Non-financial Institutions - Overseas 5 10 7 1 1 29 0 38 1 0 91
Outright Forwards 1,969 1,105 998 86 195 2,597 26 4,445 32 207 11,660
Financial Institutions - Local 357 174 367 35 79 189 10 628 9 21 1,869
Financial Institutions - Overseas 1,458 930 592 51 110 2,366 13 3,720 23 157 9,422
Non-financial Institutions - Local 135 1 23 0 4 20 2 40 1 27 254
Non-financial Institutions - Overseas 19 0 16 0 1 21 1 57 0 1 115
FX Swaps 18,599 10,052 9,379 1,288 2,335 11,846 411 2,720 866 334 57,829
Financial Institutions - Local 8,306 2,490 4,947 555 1,041 2,073 228 356 557 111 20,664
Financial Institutions - Overseas 10,260 7,469 4,391 733 1,258 9,648 177 2,238 301 220 36,696
Non-financial Institutions - Local 30 59 15 0 26 15 7 21 7 2 184
Non-financial Institutions - Overseas 3 33 26 0 9 109 0 105 0 1 285
Currency Swaps 147 245 88 0 19 386 7 48 0 8 948
Financial Institutions - Local 82 37 65 0 9 106 0 21 0 8 329
Financial Institutions - Overseas 64 171 23 0 7 276 7 28 0 0 575
Non-financial Institutions - Local 0 1 0 0 0 0 0 0 0 0 1
Non-financial Institutions - Overseas 0 36 0 0 3 3 0 0 0 0 43
OTC Options 18 106 26 0 28 150 0 135 1 46 510
Financial Institutions - Local 5 13 4 0 9 16 0 16 1 0 63
Financial Institutions - Overseas 10 93 22 0 19 94 0 99 0 46 383
Non-financial Institutions - Local 3 0 0 0 0 3 0 10 0 0 16
Non-financial Institutions - Overseas 0 0 0 0 0 38 0 10 0 0 48
Total USD Turnoverc 24,441 15,128 13,229 1,683 3,694 19,589 558 11,690 1,117 1,091 92,221
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 Oct 2024 calculated on 22 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 801 1,829 356 741 213 142 124 312 58 4,577 2,126 45,872
Financial Institutions - Local 24 62 5 2 7 4 4 14 0 123 73 7,234
Financial Institutions - Overseas 777 1,765 351 739 200 138 120 298 57 4,446 2,046 37,279
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 1 2 1,236
Non-financial Institutions - Overseas 0 1 0 0 5 0 0 0 0 6 4 122
Outright Forwards 93 158 3 11 78 2 18 4 2 370 373 28,160
Financial Institutions - Local 6 106 0 0 3 1 0 1 0 118 123 9,002
Financial Institutions - Overseas 86 47 3 11 68 1 13 3 0 231 237 17,158
Non-financial Institutions - Local 0 1 0 0 0 0 0 0 0 2 4 1,830
Non-financial Institutions - Overseas 1 4 0 0 7 0 5 0 2 20 9 170
FX Swaps 945 163 43 18 77 4 69 22 2 1,343 618 101,240
Financial Institutions - Local 94 51 3 9 35 0 1 5 0 199 56 33,480
Financial Institutions - Overseas 812 96 40 8 35 4 64 14 2 1,074 549 65,874
Non-financial Institutions - Local 0 16 0 1 1 0 3 0 0 21 7 1,206
Non-financial Institutions - Overseas 38 1 0 1 6 0 0 3 0 49 6 680
Currency Swaps 0 0 0 0 0 0 0 0 0 0 8 5,276
Financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 6 1,340
Financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 1 3,437
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 75
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 0 423
OTC Options 0 0 0 0 0 0 0 0 0 0 13 1,121
Financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 100
Financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 10 749
Non-financial Institutions - Local 0 0 0 0 0 0 0 0 0 0 0 214
Non-financial Institutions - Overseas 0 0 0 0 0 0 0 0 0 0 3 58
Total EUR Turnoverc 1,839 2,150 403 770 368 148 211 338 62 6,290 3,137 181,668