In terms of day-to-day trading, the average turnover on New Zealand's forex market has expanded to thirteen billion dollars from 7.5 billion dollars in 2004 and 4.2 billion dollars in 2001. This information was provided by the Bank of International Settlements as they gave their most recent triennial survey.
Grant Spencer, the Deputy Governor of the Reserve Bank mentioned that roughly fifteen percent of the rise was a result of the increasing value of the New Zealand dollar. Another contributing factor was the rise in transaction volume.
The triennial survey was taken for fifty four central banks and monetary authorities across the globe and it was taken during April of this year. It also displayed the progress of New Zealand's 4 largest banks. The seventy five percent gain in New Zealand market turnover overshadowed the seventy one percent rate of gain in worldwide turnover during the time span, but the local market continues to be a small part of the total 3.2 trillion dollar daily turnover on a global scale.
Grant Spencer, the Deputy Governor of the Reserve Bank mentioned that roughly fifteen percent of the rise was a result of the increasing value of the New Zealand dollar. Another contributing factor was the rise in transaction volume.
The triennial survey was taken for fifty four central banks and monetary authorities across the globe and it was taken during April of this year. It also displayed the progress of New Zealand's 4 largest banks. The seventy five percent gain in New Zealand market turnover overshadowed the seventy one percent rate of gain in worldwide turnover during the time span, but the local market continues to be a small part of the total 3.2 trillion dollar daily turnover on a global scale.
No comments:
Post a Comment