Survey: HK ranks 6th in global forex market
HONG KONG, Sept. 26 (Xinhua) -- Hong Kong ranks the sixth in the global foreign exchange market, and the seventh when the over-the-counter derivatives market is included, according to a latest survey by the Bank for International Settlements.
The results of the triennial survey confirmed that Hong Kong continues to build on its position as one of the world's major centers for foreign exchange and derivatives activities, the city's Monetary Authority Deputy Chief Executive YK Choi was quoted as saying in a government statement released late Tuesday.
"Particularly notable from the survey is the significant increase in the trading volume of the Hong Kong dollar, due to the continuing sizable inflow of capital to the Chinese mainland through the Hong Kong foreign-exchange market," Choi said.
Net daily turnover of foreign-exchange transactions rose to 174. 6 billion U.S. dollars in April, 70.9 percent higher than three years earlier, according to the survey results released Tuesday by the Bank for International Settlements.
Daily spot transactions grew 6.4 percent to 37.9 billion U.S. dollars while net turnover of forward transactions more than doubled to reach 136.7 billion dollars per day.
Forwards were mainly foreign exchange transactions and a large proportion was of short maturity of less than seven days. Hong Kong dollar against U.S. dollar remained the most heavily traded currency pair in the local market.
The growth was attributed to greater asset-management and hedge- fund activities, a rise in bank treasury operations and active carry trade activities.
Average daily net turnover of over-the-counter derivatives rose 58.2 percent to 23.6 billion U.S. dollars, with strong growth seen in both foreign-exchange derivatives and interest-rate instruments, particularly interest-rate swaps.
In contrast to the 38.2 percent drop recorded in 2004, turnover in the Hong Kong dollar against the U.S. dollar increased by more than 1.5 times this year. Its share to total net turnover rose from 7.2 percent in 2004 to 10.7 percent in 2007.
With regard to single-currency interest-rate derivatives, Hong Kong dollar-denominated contracts rose by 2.3 times to account for the largest share of the net turnover in 2007 while other major currencies registered declines.
猜你喜欢
-
- 03-082018年考研法律硕士(非法学)命题趋势
- 03-082018考研英语阅读第一步:需要快速把握文章主旨
- 03-08考研英语定语从句的翻译点:通顺
- 03-082018学会这批考研英语长难句,翻译都提升一个档次
- 03-082018考研英语一与英语二翻译有什么区别?
- 03-082018考研英语大纲发布在即英语词汇备考贴士
- 03-082018年考研英语秋季复习攻略
- 03-082018考研英语多少分能过关十年分数线一览
- 03-082018考研英语大纲公布前的复习方法
- 03-082018考研大纲即将揭晓英语(二)该如何备考