Turnovers on the Foreign Exchange Market: 13-17 October 2003

The Czech National Bank surveys the average daily turnovers on the foreign exchange market semi-annually - in April and in October. In the most recent survey conducted in the week of 13-17 October 2003 the daily average turnover rose by 370,6 million USD (18,1%) to 2.413,5 million USD compared to April 2003. Forwards and swaps had the major role in this growth, as their daily turnover rose by 465,9 million USD (47,6%). On the other hand the spot turnover fell by 10,8%. The option market turnover slightly rose by 13,5 million USD (24,0%) but their share on the total turnover remained small (2,8%).

Regarding the share of individual currency pairs, USD/CZK has the largest portion of total turnover (36,1%) with the increase of 272,0 million USD (45,3%), mainly due to the increased activity in forward and swap transactions. Share of EUR/CZK is 32,2% with a small growth of 0,2% in the most recent survey.

According to information provided by the reporting banks the activity in the surveyed period was higher than average.

Pavel Zúbek, CNB Communications division