Turnovers on the foreign exchange market - survey conducted in the week of 20-24 July 2009
The Czech National Bank surveys the average daily turnovers on the foreign exchange market quarterly – in January, April, July and in October. In the most recent survey conducted in the week of 20-24 July 2009 the daily average turnover decreased by 1,897.7 million USD (- 23.3 %) to USD 6,231.2 million compared to April 2009. Only options were growing in the surveyed period, as their daily turnover rose by USD 18 million (18.9 %). Spot transactions declined by USD 34.7 million (-3.9 %). The forward and swaps turnover decreased by USD 1.880.9 million (-26.4 %).
Regarding the share of individual currency pairs, USD/CZK has the largest portion of the total turnover (37.4 %) with a decline of USD 521.1 million (-18.3 %). The share of EUR/CZK is 35.6 % with a decrease of USD 164.4 million (-8 %) in the most recent surveyed period. EUR/CZK played the major role on the spot market (63.4 %), whereas on the forwards and swaps market its share is only 30.2 % compared to the USD/CZK share of 43.1%.
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.