Turnovers on the foreign exchange market - survey conducted in the week of 16-20 October 2006
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 October 2006 the daily average turnover rose by 193.7 million USD (3.8%) to USD 5,248.6 million compared to April 2006. Forwards and swaps had the major role in this growth, as their daily turnover rose by USD 535.9 million (15.0%). Spot operations declined by USD 319.0 million (-23.4 %). The option market turnover declined by USD 23.2 million (-20.8%), but the share of options in the total turnover remained small (1.7%).
Regarding the share of individual currency pairs, USD/CZK has the largest portion of the total turnover (45.1%) with an increase of USD 537.6 million (29.4%). The share of EUR/CZK is 21.3% with a decrease of USD 71.7 million (6.0%) in the most recent surveyed period. USD/CZK traditionally plays the major role on the forwards and swaps market (55.4%), whereas on the spot market its share is only 7.0% compared to the EUR/CZK share of 49.6%.
According to information provided by the reporting banks the activity in the surveyed period was below average. One-off swap operations are responsible for an increase of total average turnover.