Financial System

Turnover in FX and OTC derivatives markets in Poland

In 2016, the Bank for International Settlements (BIS) coordinated a survey on turnover in foreign exchange and over-the-counter (OTC) derivatives markets. 52 central banks and monetary authorities, including Narodowy Bank Polski, participated in this study. They collected data from more than 1,200 financial institutions on the value of transactions concluded in April 2016 in the foreign exchange market (including the spot market, outright forwards, fx swaps, CIRSs and currency options) and the OTC interest rate derivatives market (FRAs, IRSs including OISs, and interest rate options). Sixteen domestic banks and branches of credit institutions were surveyed in Poland. The purpose of the Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Market Activity was to obtain comprehensive and internationally comparable statistical information on the liquidity and structure of the above mentioned markets.

The key data on the foreign exchange and OTC interest rate derivatives markets in Poland are presented below:

  • • In April 2016, the average daily net turnover in the domestic foreign exchange market amounted to USD 9,116 million (an increase of 21% at current exchange rates, as compared to the value of transactions in April 2013), of which USD 5,959 million were transactions involving the Polish zloty;
    • Fx swaps continued to be the most actively traded instrument in the domestic foreign exchange market; average daily net turnover in these instruments in April 2016 amounted to USD 5,958 million (an increase of 30% at current exchange rates, as compared to the value of transactions in April 2013), of which USD 3,714 million were transactions involving the Polish zloty,
    • The average daily net turnover in the domestic spot market in April 2016 amounted to USD 2,083 million (a decrease of 10% at current exchange rates, as compared to the value of transactions in April 2013), of which USD 1,634 million were transactions involving the Polish zloty,
    • internet-based trading platforms, allowing retail clients to speculate using non-delivery forwards, were still popular,
  • The average daily net turnover in the domestic OTC interest rate derivatives market in April 2016 amounted to USD 1,558 million (a decrease of 49% at current exchange rates, as compared to the value of transactions in April 2013), of which USD 1,481 million were transactions in instruments denominated in the Polish zloty.

The results of the survey on global turnover in the foreign exchange and OTC interest rate derivatives markets have been published by the Bank for International Settlements and are available on its website: http://www.bis.org/publ/rpfx16.htm. In addition to that the webpage: http://www.bis.org/statistics/triennialrep/national.htm contains links to other central banks’ press releases which present the results of the survey for their national markets.

Downloads:

See also:

Survey results in previous years:

NBP interest rates

Reference rate 1.50
Lombard rate 2.50
Deposit rate 0.50
Rediscount rate 1.75

Exchange rates

Table of 2016-12-02
1 EUR4.4885
1 USD4.2150
1 CHF4.1705
1 GBP5.3115
100 JPY3.7077

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Narodowy Bank Polski
Świętokrzyska 11/21
00-919 Warszawa
Poland

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+48 22 185 10 00
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