Page 8 - BT Sample

Share of global OTC forex turnover
全球OTC外匯交易量
China
United States
瑞士
美國
Hong Kong
十大外匯交易中心
澳洲
43.1%
16.5%
1.6%
中國
United Kingdom
香港
Market volatility
It is not unusual for significant upheavals in the financial markets to be accompanied by a surge in demand for US dollars as the safe- haven currency domination for many financial products, especially for Over The Counter (OTC) products. Upheavals in the financial markets, triggered by the three unprecedented events in March and April, proved to be no different.
The same as previous financial crisis, the FED has arranged currency swaps with other major central banks around the world to supply them with USD. This is to enable central banks to lend USD to banks in their respective jurisdictions.
For most non-US banks, beyond their respective home jurisdiction liabilities, the majority of additional liabilities are denominated in USD. 8
Source 資料來源: Compare Forex Brokers, August 2020
“As a foreign exchange trading centre, Hong Kong is ranked third in the world, after London and New York and on a par with Singapore. Crucially, a stable and trustworthy HKD has augmented the value of Hong Kong to Mainland China.”
英國
France
7.6%
Japan
Trade Centres
Australia
Singapore
星加坡
/ BANKING TODAY / JULY- AUGUST 2020
2%
3.3%
日本 4.5% 7.6%
Germany
Switzerland
10
Largest Forex
1.5% 1.4%
Notably, it is somewhat unexpected that Hong Kong is probably one of the few cities
or jurisdictions in the world where the USD was not in short supply. Instead, there have been continuous inflows of USDs into Hong Kong, to such an extent that the Hong Kong Monetary Authority (HKMA) needed to step into the foreign exchange market to buy USD to support the HKD peg. Towards the
end of April, the first wave of USD inflows bought by HKMA
amounted to USD2.7 billion which resulted in a total of HKD20.65 billion being injected into the Hong Kong banking system.
法國
德國