Turnovers on the foreign exchange market - survey conducted in the week of 16-20 April 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 16-20 April 2007 the daily average turnover decreased by 255.1 million USD (-4.9 %) to USD 4,993.5 million compared to October 2006. Forwards and swaps had the major role in this decline, as their daily turnover decreased by USD 218.8 million (-5.3 %). Spot operations declined by USD 51.3 million (-4.9 %). The option market turnover increased by USD 15.0 million (16.3 %), but the share of options in the total turnover remained small (2.1 %).
Regarding the share of individual currency pairs, USD/CZK has the largest portion of the total turnover (42.1 %) with a decline of USD 266.7 million (-11.3 %). The share of EUR/CZK is 30.4 % with an increase of USD 399.1 million (35.6%) in the most recent surveyed period. USD/CZK traditionally plays the major role on the forwards and swaps market (52.3%), whereas on the spot market its share is only 6.3% compared to the EUR/CZK share of 48.9%.
According to information provided by the reporting banks the activity in the surveyed period was below average.