Turnovers on the foreign exchange market - survey conducted in the week of 20-24 April 2009
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 20-24 April 2009 the daily average turnover decreased by 726.8 million USD (-8.2 %) to USD 8,128.8 million compared to October 2008. Only forwards and swaps were growing in the surveyed period, as their daily turnover rose by USD 956.6 million (15.5 %). Spot transactions declined by USD 1,206.5 million (-57.3 %). The option market turnover decreased by USD 477.0 million (83.3 %), but the share of options in the total turnover remained small (1.2 %).
Regarding the share of individual currency pairs, USD/CZK has the largest portion of the total turnover (35.1 %) with a growth of USD 800.4 million (39.1 %). The share of EUR/CZK is 25.3 % with a decrease of USD 1,697.8 million (-45.3 %) in the most recent surveyed period. EUR/CZK played the major role on the spot market (60.8 %), whereas on the forwards and swaps market its share is only 20.0 % compared to the USD/CZK share of 39.1%.
According to information provided by the reporting banks the activity in the surveyed period was below 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.