Academic journal article The Reserve Bank of New Zealand Bulletin

Foreign Exchange and Derivative Turnover Survey

Academic journal article The Reserve Bank of New Zealand Bulletin

Foreign Exchange and Derivative Turnover Survey

Article excerpt

1 September 2010

New Zealand's foreign exchange market handled an average of US$9.5 billion per day in April 2010 (relative to US$13 billion, US$7.5 and US$4.2 billion per day in April 2007, April 2004 and April 2001 respectively), according to a Reserve Bank survey released today.

These results are part of a triennial survey of 53 central banks and monetary authorities co-ordinated by the Bank for International Settlements (BIS) and reported in US dollars. In New Zealand the survey captures the activity of the five major banks participating in the local wholesale financial markets.

Commenting on the survey, Head of Financial Markets Simon Tyler said: "Since 2007, foreign exchange turnover in New Zealand has decreased by almost 31%. Much of the decline is due to a fall in foreign exchange swap transaction volume, only a modest 3% is due to a fall in the New Zealand dollar versus the United States Dollar since April 2007. This contrasts sharply with international data which show a 20% increase in global foreign exchange turnover (including spot transactions, outright forwards and foreign exchange swaps) to $4. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.