Turnovers on the foreign exchange market: 11-15 April 2005
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 11-15 April 2005 the daily average turnover rose by 854.2 million USD (24.8%) to USD 4,299.7 million compared to October 2004. The rising trend has continued with a gain of as much as 140.3% since October 2002. Spot operations had the major role in this growth, as their daily turnover rose by USD 435.7 million (41.5%). Forwards and swaps rose by USD 356.8 million (15.4%). The option market turnover rose by USD 61.8 million (79.2%), but the share of options in the total turnover remained small (3.3%).
Regarding the share of individual currency pairs, USD/CZK has the largest portion of the total turnover (42.2%) with an increase of USD 270.1 million (17.5%). The share of EUR/CZK is 21.8% with an increase of USD 81.8 million (9.6%) in the most recent surveyed period. USD/CZK traditionally plays the major role on the forwards and swaps market (55.0%), whereas on the spot market its share is only 21.9% compared to the EUR/CZK share of 36.0%.
According to information provided by the reporting banks the activity in the surveyed period was slightly above average.
Pavlína Bolfová, CNB spokesperson