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Forex turnover in Tokyo jumps 8% in April.

TOKYO, July 25 Kyodo

The daily average volume of foreign exchange trading in Tokyo climbed 8.0 percent in April from a year earlier to $284.6 billion for the second straight yearly rise, approaching the $302.5 billion yen marked in April 2008 before the so-called Lehman shock, the Tokyo Foreign Exchange Market Committee said Monday.

Inter-banking transactions jumped 13.0 percent to $219.6 billion, while deals involving exporters and other bank customers fell 6.2 percent to $65 billion, according to the yearly survey conducted by the committee comprising the Bank of Japan and domestic and overseas financial institutions.

The customer attributed the decline in customer transactions mainly to the fall in Japanese exports in the wake of the March 11 earthquake and tsunami.

By currency, the volume of U.S. dollar-yen trades fell 5.3 percent and euro-yen transactions declined 6.2 percent, whereas deals between the yen and other currencies rose 28.7 percent due to active margin trading involving the Australian dollar, the committee said.

The survey is conducted in every April.
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Comment:Forex turnover in Tokyo jumps 8% in April.
Publication:Japan Weekly Monitor
Geographic Code:9JAPA
Date:Jul 25, 2011
Words:178
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