Turnovers on the foreign exchange market: 11 - 15 April 2005 - CORRECTION !
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 522.2 million USD (15.2%) to USD 3,967.7 million compared to October 2004. The rising trend has continued with a gain of as much as 121.7% since October 2002. Forwards and swaps had the major role in this growth, as their daily turnover rose by USD 356.8 million (15.4%). Spot operations rose by USD 103.6 million (9.9%). The option market turnover rose by USD 61.8 million (79.2%), but the share of options in the total turnover remained small (3.5%).
Regarding the share of individual currency pairs, USD/CZK has the largest portion of the total turnover (39.5%) with an increase of USD 25.5 million (1.65%). The share of EUR/CZK is 24.0% with an increase of USD 97.5 million (11.4%) 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 7.0% compared to the EUR/CZK share of 47.7%.
According to information provided by the reporting banks the activity in the surveyed period was slightly above average.