Turnovers on the foreign exchange market - survey conducted in the week of 13-17 October 2007
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 2008 the daily average turnover decreased by 165.2 million USD (-1.8 %) to USD 8,855.7 million compared to April 2008. Spot transactions grew the most, as their daily turnover rose by USD 547.4 million (35.2 %). Forwards and swaps declined by USD 1,015.5 million (-14.1 %). The option market turnover increased by USD 303.0 million (112.4 %), but the share of options in the total turnover remained small (6.5 %).
Regarding the share of individual currency pairs, EUR/CZK has the largest portion of the total turnover (42.4 %) with a growth of USD 610.7 million (19.5 %). The share of USD/CZK is 23.1 % with a decrease of USD 1,777.0 million (-46.5%) in the most recent surveyed period. This time EUR/CZK played the major role on the forwards and swaps market and spot market as well (37.6 % or 57.0 %), whereas the USD/CZK share was 30.7 % or 7.0%.
According to information provided by the reporting banks the activity in the surveyed period was average. The derivatives turnover was high again as the local banks prefer using foreign exchange market to money market for steering their liquidity in the foreign exchange currencies.