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Tuesday, 17 February 1987
Page: 40

(Question No. 4495)

Mr Langmore asked the Treasurer, upon notice, on 16 September 1986:

(1) What was the average daily turnover of Australian dollars in Australian foreign exchange markets in the most recent period available.

(2) What was the average daily turnover of Australian dollars in the (a) London, (b) New York and (c) Tokyo foreign exchange markets in the same period.

(3) Is evidence available on changes in the level of turnover in Australian dollars since 1981-82; if so, what does it show.

(4) If there has been a growth in turnover, what factors have contributed to this.

(5) Where does the Australian dollar rank in a table showing average daily foreign exchange currency turnover.

(6) How does this compare with levels of overseas trade for the same countries.

Mr Keating —The answer to the honourable member's question is as follows:

The information sought by the honourable member is available in the December 1986 issue of the Reserve Bank of Australia Bulletin. I have asked the Bank to send you a copy.

I would draw the honourable member's attention particularly to Tables K4 `Foreign Exchange Turnover' and K5 `Foreign Exchange Contacts Outstanding' and to the article `The Forex Market-A Central Banker's View'.