dimensions_codes_order: FREQ units

FREQ: Frequency

units: Units

[A] Annually

D: Daily

M: Monthly

Q: Quarterly

S: Semiannual

W: Weekly

m: $m

name: Monetary policy operations – es balances and repo agreements — es balances and repo agreements

notes: A3 OPEN MARKET OPERATIONS –  ES BALANCES AND REPO AGREEMENTS

notes: A3 Reserve Bank of Australia – Open Market Operations

notes: ‘Total ES Balances’ is the aggregate of balances held in Exchange Settlement (ES) Accounts with the Reserve Bank rounded to the closest million, as at the close of business. 'Surplus ES balances' is the aggregate of balances held in ES Accounts (ESAs) adjusted for: the minimum amount of ES balances that ESA holders are required to hold; and net receipts from transactions settled via the direct entry (DE) system or the New Payments Platform (NPP) after 4:45 PM AEST/AEDT time on business days and all NPP payments on weekend and public holidays ('late payments'). An ESA holder’s applicable minimum ES balance requirement is the greater of: the amount of ES balances required to meet their after-hours payments activity; or their position in Standing Facility (SF) Repos contracted at a pricing rate equal to the rate on surplus ESA balances ('SF Repos at the Rate on Surplus ESA Balances').

notes: SF Repos at the Rate on Surplus ESA Balances' is the aggregate of outstanding repurchase agreements contracted by ES account holders through the Reserve Bank’s standing facilities, where the pricing rate has been set equal to the rate on surplus ESA balances. In an 'SF Repo’, an ES Account holder is a seller of securities and the Reserve Bank is the buyer. Consequently, from the Reserve Bank’s point of view, these transactions are reverse repos. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.

notes: In determining compensation on ES funds, the Reserve Bank adjusts closing balances for the late payments of the account holder and for the ESA holder’s applicable minimum ES balance requirement. If the adjusted balance is negative, then a 25 basis point margin will be applied to the shortfall. ‘Deficit against 'late payments' and 'applicable minimum ES balance requirement' charged at Margin' is the aggregate of any such shortfalls. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.

notes: The Reserve Bank may contract SF Repos at a pricing rate equal to the rate on surplus ESA balances or at a (higher) ‘Margin’ rate of interest. The aggregate outstanding amount of SF Repos contracted at a rate above the cash rate target is shown as ‘SF Repos at Margin’. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.

notes: Separate to its standing facilities, the Reserve Bank may contract reverse repos through ‘Open Market Operations’. The outstanding amounts of both reverse repos and repos contracted through the Reserve Bank’s open market operations are shown. The values represent the initial purchase amounts plus accrued interest to that date.

notes: ‘Market value of securities held under Reverse Repo’ is derived from prices as at close of business on that day. These securities may be held under reverse repos contracted through the Reserve Bank’s standing facilities or its open market operations. ‘AGS’ is Australian Government Securities. ‘Semis’ are securities issued by State and Territory central borrowing authorities.  ‘Other Government‑related’ are securities issued by approved supranational agencies, Foreign Governments or securities with an Australian or Foreign Government guarantee.  ‘Asset-backed Securities’ Includes, but is not restricted to, asset-backed commercial paper (ABCP), residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and securities backed by auto loans/leases and/or credit card receivables.  ‘Other’ is any other security considered eligible by the Reserve Bank at the time. These series are published with a three-calendar-month publication lag: these series are updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier. If the last day of the calendar month falls on a weekend the series will be published on the first business day after the end of the month.

notes: ‘Indicative Size of Operation’ is an indicative estimate of the size (in aggregate) of any transactions that the Reserve Bank may undertake, which would result in an injection/withdrawal of ES funds from the banking system.  Withdrawal of funds is shown as a negative (-) figure.  Injection of funds is shown as a positive (+) figure. On 3 July 2024 the Bank ceased publishing an ‘Indicative Size of Operation’; this is no longer relevant given that approaches will be fully allotted if all the terms to access ES balances at OMO are met by approaching counterparties.

notes: ‘(Rev) Repo agreements’ is the aggregate purchase prices of securities bought by the Reserve Bank under repurchase agreement in its morning round of open market operations on that day. Where the Reserve Bank has sold a greater value of securities under repurchase agreement than it is has bought, the amount shown will be negative.

notes: ‘Outright transactions’ is the cash value of any outright purchases of securities contracted via the morning round of open market operations.

notes: ‘Foreign Exchange Swaps’ are the aggregate amount of Australian dollars sold against foreign currency (via swap) in the morning round of open market operations. Where the Reserve Bank has purchased a greater amount of Australian dollars under swap than it has sold, the amount shown will be negative.

notes: ‘Additional OMO Dealt’ are repurchase agreements contracted in any open market operations subsequent to the morning round of operations for that day. The amount shown represents the aggregate purchase prices of securities bought by the Reserve Bank. Where the Reserve Bank has sold a greater value of securities under repurchase agreement than it is has bought, the amount shown will be negative.

notes: The 'Outright Transactions Details' provides further information on the outright purchases and sales of Bonds and Discount Securities issued by the Australian Commonwealth, State & Territory Governments, conducted as part of the Bank's regular open market liquidity operations. “Issuer” is the acronym of the issuer of the bond/security.  A positive “Face value dealt” indicates a purchase while a negative value indicates a sale. 'Weighted average rate' is the average of the rates dealt for each bond/security, weighted by the amount transacted. 'Cut-off rate' is the lowest yield accepted.

notes: OMO Repo Transaction Details provides a summary of the type of securities delivered to/by the RBA under (Reverse) Repo at each term dealt through the Bank’s regular open market liquidity operations.  'Term' is the number of days dealt in the operations.  'Value Dealt' is the amount of the first leg of securities bought/sold by the RBA under (Reverse) Repo.  Withdrawal of funds (Repo transactions) from the aggregate Exchange Settlement (ES) Account pool of funds is shown as a negative (-) figure.  Injection (Reverse Repo) of funds into the aggregate ES Account pool of funds is shown as a positive (+) figure. ‘Weighted average rate' is the average of the rates on fixed-rate (Reverse) Repos dealt by the Bank through its regular open market liquidity operations, weighted by the amount transacted. ‘Cut-off rate' is the lowest of the rates on fixed-rate Reverse Repos (or highest of the rates on fixed-rate Repos) dealt by the Bank. ‘Weighted average spread’ is the average of the spreads to the cash rate target on floating-rate (Reverse) Repos dealt by the Bank through its regular open market liquidity operations, weighted by the amount transacted. ‘Cut-off spread' is the lowest of the spreads on floating-rate Reverse Repos (or highest of the spreads on floating-rate Repos) dealt by the Bank.

notes: The Repos Unwinds sheet shows, for all repurchase agreements contracted via the Reserve Bank’s regular open market liquidity operations, the aggregate repurchase amounts corresponding to each business day. Where the Reserve Bank has contracted to repurchase a greater amount of securities than it has agreed to resell, a negative amount will be shown. For floating-rate (Reverse) Repos dealt by the Bank through its regular open market liquidity operations, the amounts are calculated assume no change to the cash rate target from the publication date.

notes: The Bond Purchase Program is when the Bank purchases government securities under the bond purchase program set out in the Governor's Statements of 3 November 2020 and 2 February 2021. These transactions are executed on an outright basis not under repurchase agreement, and for standard settlement date of T+2. Data are updated daily for the previous day’s transactions. Note that auction results for 23 June 2021 were amended due to an erroneous approach.

notes: The Long-Dated Open Market Operations is when the Bank purchases (or sells) eligible securities with terms to maturity greater than 18 months that do not form part of the bond purchase program. This includes purchases for the purpose of the 3-year yield target as announced on 19 March 2020 and bonds purchased to address market dislocations since March 2020 – see https://www.rba.gov.au/mkt-operations/announcements/rba-purchases-of-government-securities.html for more information. These transactions are executed on an outright basis not under repurchase agreement, and for standard settlement date of T+2. Data are updated daily for the previous day’s transactions.

notes: The Short-Dated Liquidity Management Operations are when the Bank purchases Australian Government Securities with terms to maturity less than 18 months over-the-counter, for the purposes of managing the liquidity impact when these bonds mature. These transactions are executed on an outright basis not under repurchase agreement. Data exclude sales to the AOFM, which have no liquidity impact, and are published with a one week delay.

notes:
From March 2020, the RBA offerred to purchase Australian dollar-denominated securities under reverse repurchase agreement (repo) with the transaction settled in US dollars. All those members of the Reserve Bank Information and Transfer System (RITS) that were eligible to participate in the RBA's domestic market operations were also eligible to participate in the Bank's US dollar repo operations.
Each operation was conducted as a variable rate auction, with bids for each repo maturity submitted as a US dollar interest rate. For each repo maturity, allocations were made in descending order of interest rate bid, subject to no single participant being allocated more than 25 per cent of the total amount of funds offerred under the particular operation.
The purchase prices of securities sold to the RBA under these operations were calculated by adjusting their current market value (in US dollar terms) by a margin. For each security, the margin was set 10 percentage points higher than the margin applicable to that security in the RBA's domestic market operations.

notes:
On 19 March 2020 the Reserve Bank announced the Term Funding Facility (TFF), designed to support lending to Australian businesses by offering three-year funding to authorised deposit-taking institutions (ADIs). On 1 September 2020 the Reserve Bank announced the introduction of the Supplementary Allowance. For details on the TFF, see the "Term Funding Facility" website in the "Market Operations" section of the Reserve Bank website.
In the "Term Funding Facility" tab, "Total Drawdowns" is equal to the total value of outstanding TFF Repos. "Total Funding Allowance" is the sum of TFF Funding Allowances for all ADIs; from 6 April 2020 to 30 September 2020 it is equal to the sum of the “Initial Allowance” and “Additional Allowance” columns, from 1 October 2020 to 30 June 2021 it is equal to the sum of the "Initial Allowance Drawdowns", "Additional Allowance" and "Supplementary Allowance" columns (with use of Initial Allowance Drawdowns from 1 October reflecting that the Initial Allowance could not be drawn further after 30 September), from 1 July 2021 it is equal to the sum of final values of each of the "Initial Allowance", "Additional Allowance" and "Supplementary Allowance" columns, representing the total funding made available to eligible institutions over the period the TFF facility was open to draw-downs. The “Initial Allowance” is sum of TFF Initial Allowances for all ADIs. "Additional Allowance attributed to SME lending" and "Additional allowance attributed to large business lending" are the sum of TFF additional allowances for all ADIs for SME and large business lending respectively. The "Supplementary Allowance" is the sum of TFF Supplementary Allowances for all ADIs. The TFF closed to new drawdowns of funding on 30 June 2021. The “Total Drawdowns” series will continue to be updated weekly until all active TFF repos have matured. Other series in the “Term Funding Facility” tab were updated for the final time on 2 June 2021. For more information on how terms are defined see the TFF Operational Notes. For more information on usage of the TFF, see Reserve Bank Statement on Monetary Policy, August 2021, Box C: Use of the Reserve Bank's Term Funding Facility.

notes: The TFF Unwinds sheet shows the sum of all TFF repos that have matured, or are scheduled to mature, in the week ending on the given business day since the first scheduled TFF maturity. Early terminations will change scheduled maturities and may not be reflected in A3 immediately.

provider_code: RBA

provider_name: Reserve Bank of Australia


b: $b

name: Monetary policy operations – term funding facility unwinds — term funding facility unwinds

notes: A3 OPEN MARKET OPERATIONS –  ES BALANCES AND REPO AGREEMENTS

notes: A3 Reserve Bank of Australia – Open Market Operations

notes: ‘Total ES Balances’ is the aggregate of balances held in Exchange Settlement (ES) Accounts with the Reserve Bank rounded to the closest million, as at the close of business. 'Surplus ES balances' is the aggregate of balances held in ES Accounts (ESAs) adjusted for: the minimum amount of ES balances that ESA holders are required to hold; and net receipts from transactions settled via the direct entry (DE) system or the New Payments Platform (NPP) after 4:45 PM AEST/AEDT time on business days and all NPP payments on weekend and public holidays ('late payments'). An ESA holder’s applicable minimum ES balance requirement is the greater of: the amount of ES balances required to meet their after-hours payments activity; or their position in Standing Facility (SF) Repos contracted at a pricing rate equal to the rate on surplus ESA balances ('SF Repos at the Rate on Surplus ESA Balances').

notes: SF Repos at the Rate on Surplus ESA Balances' is the aggregate of outstanding repurchase agreements contracted by ES account holders through the Reserve Bank’s standing facilities, where the pricing rate has been set equal to the rate on surplus ESA balances. In an 'SF Repo’, an ES Account holder is a seller of securities and the Reserve Bank is the buyer. Consequently, from the Reserve Bank’s point of view, these transactions are reverse repos. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.

notes: In determining compensation on ES funds, the Reserve Bank adjusts closing balances for the late payments of the account holder and for the ESA holder’s applicable minimum ES balance requirement. If the adjusted balance is negative, then a 25 basis point margin will be applied to the shortfall. ‘Deficit against 'late payments' and 'applicable minimum ES balance requirement' charged at Margin' is the aggregate of any such shortfalls. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.

notes: The Reserve Bank may contract SF Repos at a pricing rate equal to the rate on surplus ESA balances or at a (higher) ‘Margin’ rate of interest. The aggregate outstanding amount of SF Repos contracted at a rate above the cash rate target is shown as ‘SF Repos at Margin’. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.


name: Monetary policy operations – regular open market liquidity operations — regular open market operations

notes: Separate to its standing facilities, the Reserve Bank may contract reverse repos through ‘Open Market Operations’. The outstanding amounts of both reverse repos and repos contracted through the Reserve Bank’s open market operations are shown. The values represent the initial purchase amounts plus accrued interest to that date.

notes: ‘Market value of securities held under Reverse Repo’ is derived from prices as at close of business on that day. These securities may be held under reverse repos contracted through the Reserve Bank’s standing facilities or its open market operations. ‘AGS’ is Australian Government Securities. ‘Semis’ are securities issued by State and Territory central borrowing authorities.  ‘Other Government‑related’ are securities issued by approved supranational agencies, Foreign Governments or securities with an Australian or Foreign Government guarantee.  ‘Asset-backed Securities’ Includes, but is not restricted to, asset-backed commercial paper (ABCP), residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and securities backed by auto loans/leases and/or credit card receivables.  ‘Other’ is any other security considered eligible by the Reserve Bank at the time. These series are published with a three-calendar-month publication lag: these series are updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier. If the last day of the calendar month falls on a weekend the series will be published on the first business day after the end of the month.

notes: ‘Indicative Size of Operation’ is an indicative estimate of the size (in aggregate) of any transactions that the Reserve Bank may undertake, which would result in an injection/withdrawal of ES funds from the banking system.  Withdrawal of funds is shown as a negative (-) figure.  Injection of funds is shown as a positive (+) figure. On 3 July 2024 the Bank ceased publishing an ‘Indicative Size of Operation’; this is no longer relevant given that approaches will be fully allotted if all the terms to access ES balances at OMO are met by approaching counterparties.

notes: ‘(Rev) Repo agreements’ is the aggregate purchase prices of securities bought by the Reserve Bank under repurchase agreement in its morning round of open market operations on that day. Where the Reserve Bank has sold a greater value of securities under repurchase agreement than it is has bought, the amount shown will be negative.

notes: ‘Outright transactions’ is the cash value of any outright purchases of securities contracted via the morning round of open market operations.

notes: ‘Foreign Exchange Swaps’ are the aggregate amount of Australian dollars sold against foreign currency (via swap) in the morning round of open market operations. Where the Reserve Bank has purchased a greater amount of Australian dollars under swap than it has sold, the amount shown will be negative.


basis-points: Basis points

days: Days

per-cent: Per cent

name: Monetary policy operations – open market operations repo transaction details — omo repo transaction details

notes: ‘Additional OMO Dealt’ are repurchase agreements contracted in any open market operations subsequent to the morning round of operations for that day. The amount shown represents the aggregate purchase prices of securities bought by the Reserve Bank. Where the Reserve Bank has sold a greater value of securities under repurchase agreement than it is has bought, the amount shown will be negative.

notes: The 'Outright Transactions Details' provides further information on the outright purchases and sales of Bonds and Discount Securities issued by the Australian Commonwealth, State & Territory Governments, conducted as part of the Bank's regular open market liquidity operations. “Issuer” is the acronym of the issuer of the bond/security.  A positive “Face value dealt” indicates a purchase while a negative value indicates a sale. 'Weighted average rate' is the average of the rates dealt for each bond/security, weighted by the amount transacted. 'Cut-off rate' is the lowest yield accepted.

notes: OMO Repo Transaction Details provides a summary of the type of securities delivered to/by the RBA under (Reverse) Repo at each term dealt through the Bank’s regular open market liquidity operations.  'Term' is the number of days dealt in the operations.  'Value Dealt' is the amount of the first leg of securities bought/sold by the RBA under (Reverse) Repo.  Withdrawal of funds (Repo transactions) from the aggregate Exchange Settlement (ES) Account pool of funds is shown as a negative (-) figure.  Injection (Reverse Repo) of funds into the aggregate ES Account pool of funds is shown as a positive (+) figure. ‘Weighted average rate' is the average of the rates on fixed-rate (Reverse) Repos dealt by the Bank through its regular open market liquidity operations, weighted by the amount transacted. ‘Cut-off rate' is the lowest of the rates on fixed-rate Reverse Repos (or highest of the rates on fixed-rate Repos) dealt by the Bank. ‘Weighted average spread’ is the average of the spreads to the cash rate target on floating-rate (Reverse) Repos dealt by the Bank through its regular open market liquidity operations, weighted by the amount transacted. ‘Cut-off spread' is the lowest of the spreads on floating-rate Reverse Repos (or highest of the spreads on floating-rate Repos) dealt by the Bank.

notes: The Repos Unwinds sheet shows, for all repurchase agreements contracted via the Reserve Bank’s regular open market liquidity operations, the aggregate repurchase amounts corresponding to each business day. Where the Reserve Bank has contracted to repurchase a greater amount of securities than it has agreed to resell, a negative amount will be shown. For floating-rate (Reverse) Repos dealt by the Bank through its regular open market liquidity operations, the amounts are calculated assume no change to the cash rate target from the publication date.

notes: The Bond Purchase Program is when the Bank purchases government securities under the bond purchase program set out in the Governor's Statements of 3 November 2020 and 2 February 2021. These transactions are executed on an outright basis not under repurchase agreement, and for standard settlement date of T+2. Data are updated daily for the previous day’s transactions. Note that auction results for 23 June 2021 were amended due to an erroneous approach.

notes: The Long-Dated Open Market Operations is when the Bank purchases (or sells) eligible securities with terms to maturity greater than 18 months that do not form part of the bond purchase program. This includes purchases for the purpose of the 3-year yield target as announced on 19 March 2020 and bonds purchased to address market dislocations since March 2020 – see https://www.rba.gov.au/mkt-operations/announcements/rba-purchases-of-government-securities.html for more information. These transactions are executed on an outright basis not under repurchase agreement, and for standard settlement date of T+2. Data are updated daily for the previous day’s transactions.


name: Monetary policy operations – open market operations repo unwinds — omo repo unwinds

notes: A3 OPEN MARKET OPERATIONS –  ES BALANCES AND REPO AGREEMENTS

notes: A3 Reserve Bank of Australia – Open Market Operations

notes: The Short-Dated Liquidity Management Operations are when the Bank purchases Australian Government Securities with terms to maturity less than 18 months over-the-counter, for the purposes of managing the liquidity impact when these bonds mature. These transactions are executed on an outright basis not under repurchase agreement. Data exclude sales to the AOFM, which have no liquidity impact, and are published with a one week delay.

notes:
From March 2020, the RBA offerred to purchase Australian dollar-denominated securities under reverse repurchase agreement (repo) with the transaction settled in US dollars. All those members of the Reserve Bank Information and Transfer System (RITS) that were eligible to participate in the RBA's domestic market operations were also eligible to participate in the Bank's US dollar repo operations.
Each operation was conducted as a variable rate auction, with bids for each repo maturity submitted as a US dollar interest rate. For each repo maturity, allocations were made in descending order of interest rate bid, subject to no single participant being allocated more than 25 per cent of the total amount of funds offerred under the particular operation.
The purchase prices of securities sold to the RBA under these operations were calculated by adjusting their current market value (in US dollar terms) by a margin. For each security, the margin was set 10 percentage points higher than the margin applicable to that security in the RBA's domestic market operations.

notes:
On 19 March 2020 the Reserve Bank announced the Term Funding Facility (TFF), designed to support lending to Australian businesses by offering three-year funding to authorised deposit-taking institutions (ADIs). On 1 September 2020 the Reserve Bank announced the introduction of the Supplementary Allowance. For details on the TFF, see the "Term Funding Facility" website in the "Market Operations" section of the Reserve Bank website.
In the "Term Funding Facility" tab, "Total Drawdowns" is equal to the total value of outstanding TFF Repos. "Total Funding Allowance" is the sum of TFF Funding Allowances for all ADIs; from 6 April 2020 to 30 September 2020 it is equal to the sum of the “Initial Allowance” and “Additional Allowance” columns, from 1 October 2020 to 30 June 2021 it is equal to the sum of the "Initial Allowance Drawdowns", "Additional Allowance" and "Supplementary Allowance" columns (with use of Initial Allowance Drawdowns from 1 October reflecting that the Initial Allowance could not be drawn further after 30 September), from 1 July 2021 it is equal to the sum of final values of each of the "Initial Allowance", "Additional Allowance" and "Supplementary Allowance" columns, representing the total funding made available to eligible institutions over the period the TFF facility was open to draw-downs. The “Initial Allowance” is sum of TFF Initial Allowances for all ADIs. "Additional Allowance attributed to SME lending" and "Additional allowance attributed to large business lending" are the sum of TFF additional allowances for all ADIs for SME and large business lending respectively. The "Supplementary Allowance" is the sum of TFF Supplementary Allowances for all ADIs. The TFF closed to new drawdowns of funding on 30 June 2021. The “Total Drawdowns” series will continue to be updated weekly until all active TFF repos have matured. Other series in the “Term Funding Facility” tab were updated for the final time on 2 June 2021. For more information on how terms are defined see the TFF Operational Notes. For more information on usage of the TFF, see Reserve Bank Statement on Monetary Policy, August 2021, Box C: Use of the Reserve Bank's Term Funding Facility.

notes: The TFF Unwinds sheet shows the sum of all TFF repos that have matured, or are scheduled to mature, in the week ending on the given business day since the first scheduled TFF maturity. Early terminations will change scheduled maturities and may not be reflected in A3 immediately.


date: Date

name: Monetary policy operations – us dollar repo operations — us dollar repo operations

notes: ‘Total ES Balances’ is the aggregate of balances held in Exchange Settlement (ES) Accounts with the Reserve Bank rounded to the closest million, as at the close of business. 'Surplus ES balances' is the aggregate of balances held in ES Accounts (ESAs) adjusted for: the minimum amount of ES balances that ESA holders are required to hold; and net receipts from transactions settled via the direct entry (DE) system or the New Payments Platform (NPP) after 4:45 PM AEST/AEDT time on business days and all NPP payments on weekend and public holidays ('late payments'). An ESA holder’s applicable minimum ES balance requirement is the greater of: the amount of ES balances required to meet their after-hours payments activity; or their position in Standing Facility (SF) Repos contracted at a pricing rate equal to the rate on surplus ESA balances ('SF Repos at the Rate on Surplus ESA Balances').

notes: SF Repos at the Rate on Surplus ESA Balances' is the aggregate of outstanding repurchase agreements contracted by ES account holders through the Reserve Bank’s standing facilities, where the pricing rate has been set equal to the rate on surplus ESA balances. In an 'SF Repo’, an ES Account holder is a seller of securities and the Reserve Bank is the buyer. Consequently, from the Reserve Bank’s point of view, these transactions are reverse repos. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.

notes: In determining compensation on ES funds, the Reserve Bank adjusts closing balances for the late payments of the account holder and for the ESA holder’s applicable minimum ES balance requirement. If the adjusted balance is negative, then a 25 basis point margin will be applied to the shortfall. ‘Deficit against 'late payments' and 'applicable minimum ES balance requirement' charged at Margin' is the aggregate of any such shortfalls. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.

notes: The Reserve Bank may contract SF Repos at a pricing rate equal to the rate on surplus ESA balances or at a (higher) ‘Margin’ rate of interest. The aggregate outstanding amount of SF Repos contracted at a rate above the cash rate target is shown as ‘SF Repos at Margin’. This series is published with a three-calendar-month publication lag: the series is updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier.

notes: Separate to its standing facilities, the Reserve Bank may contract reverse repos through ‘Open Market Operations’. The outstanding amounts of both reverse repos and repos contracted through the Reserve Bank’s open market operations are shown. The values represent the initial purchase amounts plus accrued interest to that date.

notes: ‘Market value of securities held under Reverse Repo’ is derived from prices as at close of business on that day. These securities may be held under reverse repos contracted through the Reserve Bank’s standing facilities or its open market operations. ‘AGS’ is Australian Government Securities. ‘Semis’ are securities issued by State and Territory central borrowing authorities.  ‘Other Government‑related’ are securities issued by approved supranational agencies, Foreign Governments or securities with an Australian or Foreign Government guarantee.  ‘Asset-backed Securities’ Includes, but is not restricted to, asset-backed commercial paper (ABCP), residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and securities backed by auto loans/leases and/or credit card receivables.  ‘Other’ is any other security considered eligible by the Reserve Bank at the time. These series are published with a three-calendar-month publication lag: these series are updated on the last business day of each calendar month to cover the period up until the last business day of the calendar month three months earlier. If the last day of the calendar month falls on a weekend the series will be published on the first business day after the end of the month.


aed: AED

cad: CAD

chf: CHF

cny: CNY

eur: EUR

gbp: GBP

hkd: HKD

idr: IDR

inr: INR

jpy: JPY

krw: KRW

myr: MYR

nzd: NZD

pgk: PGK

php: PHP

sdr: SDR

sgd: SGD

thb: THB

twd: TWD

usd: USD

vnd: VND

zar: ZAR

name: Holdings of australian government securities and semis  — ags - notes

notes: A3.1 HOLDINGS OF AUSTRALIAN GOVERNMENT SECURITIES AND SEMIS

notes: These data show the face value of outright holdings by the Reserve Bank of bonds issued by the Australian Government and the states and territories. AGS refers to Australian Government Securities; T-Notes refers to Australian Government Treasury Notes; NSWTC refers to the New South Wales Treasury Corporation; TCV refers to the Treasury Corporation of Victoria; QTC refers to the Queensland Treasury Corporation; WATC refers to the Western Australian Treasury Corporation; SAFA refers to the South Australian Government Financing Authority; TASC refers to the Tasmanian Public Finance Corporation; NT refers to the Northern Territory Treasury Corporation; and ACT refers to the Australian Capital Territory.


$-million: $ million

us-million: US$ million

name: Reserve bank of australia – foreign exchange transactions and holdings of official reserve assets

notes: A4  RESERVE BANK OF AUSTRALIA – FOREIGN EXCHANGE TRANSACTIONS AND HOLDINGS OF OFFICIAL RESERVE ASSETS

notes: Figures for ‘RBA FX transactions’, ‘FX transactions’, ‘Valuation effects’ and ‘Movement in official reserve assets’ refer to period totals. All other figures are end period values.

notes: ‘RBA FX transactions’, ‘FX transactions’, sales (-) and purchases (+), are reported according to the date on which settlement takes place (‘value date’).

notes: ‘RBA FX transactions (Market)’ are foreign exchange transactions against the Australian dollar (excluding foreign exchange swaps) undertaken by the RBA with foreign exchange dealers in Australia or overseas.

notes: ‘RBA FX transactions (Government)’ are the RBA’s foreign exchange transactions with the Australian Government.

notes: ‘FX transactions (Other)’ include the RBA’s foreign exchange transactions with other central banks, international financial institutions and clients other than the Australian Government, interest received on holdings of foreign assets, and transactions between the Australian Government and the International Monetary Fund (IMF). From January 2015 onwards, ‘FX transactions (Other)’ also include changes in Australia's official reserves assets owing to gold loan, gold swap and repurchase agreement transactions.

notes: ‘RBA FX transactions (Swap)’ are RBA foreign exchange swap transactions that settled during the period, excluding swaps conducted with central banks. For the period January 1995 until February 1996 ‘FX transactions (Other)’ includes ‘RBA FX transactions (Swap)’.

notes: ‘Official reserve assets (Total)’ comprise holdings of ‘Official reserve assets (FX)’, ‘Official reserve assets (Gold)’ and ‘Official reserve assets (Other)’. ‘Official reserve assets (Other)’ comprises Special Drawing Rights and the Reserve position in the IMF. From January 2015, ‘Official reserve assets (Other)’ also includes the market value of derivatives with non-resident entities, holdings in the Asian Bond Fund and loans to the IMF's Poverty Reduction and Growth Trust (PRGT); prior to January 2015, holdings in the Asian Bond Fund and the market value of derivatives with non resident entities are included in ‘Official reserve assets (FX)’. From October 2022, ‘Official reserve assets (Other)’ also includes holdings in the deposit and loan accounts of the IMF’s Resilience and Sustainability Trust (RST).  Prior to June 2009, ‘Official reserve assets (Other)’ also include the market value of swap transactions conducted with the Federal Reserve as part of the US dollar Swap Facility.

notes: ‘Other foreign currency assets’ reflect holdings of foreign assets held by Australia's authorities that do not meet the criteria of official reserve assets as outlined by the IMF. These include foreign currency claims on domestic resident entities and foreign currency borrowed under the RBA's bilateral local currency swap agreements with other central banks.From October 2022, ‘Other foreign currency assets’ also includes holdings in the reserve account of the IMF’s Resilience and Sustainability Trust (RST).  Prior to January 2015, 'Net forward foreign currency commitments' include 'Other foreign currency assets'.

notes:
‘Net forward foreign currency commitments’ reflect notional values of unsettled spot and forward foreign exchange transactions vis-á-vis the Australian dollar as well as future maturities of the RBA's outstanding gold loans, gold swaps, repurchase agreements and  transactions under the RBA's bilateral local currency swap agreements with other central banks. Prior to January 2015, ‘Net forward foreign currency commitments’ exclude future maturities of the RBA's outstanding gold loans and repurchase agreements.
‘Net forward foreign currency commitments: Short-Term’ is defined as the ‘Net forward foreign currency commitments’ that mature within 12 months.

notes:
The sum of ‘Official reserve assets (Gold)’ and ‘Official reserve assets (FX)’ may differ from figures reported on the RBA's balance sheet in the weekly Reserve Bank of Australia Balance Sheet and in the RBA’s Annual Report. From 1 July 1996, foreign currency securities sold and cash lent under repurchase agreements are retained for accounting purposes as foreign currency investments in the RBA’s balance sheet, along with the cash received under repurchase agreements, in accordance with standard accounting treatment. Gold lent under gold loan and gold swap transactions is also retained in the RBA's balance sheet. Securities received under repurchase agreements and gold received under gold swaps are excluded from the RBA's balance sheet.

For the purpose of reporting foreign exchange reserves in this table, securities sold, securities received and cash lent under repurchase agreements are excluded from official reserve assets along with gold lent under gold loan and gold lent or received under gold swap transactions. Cash received under repurchase agreements and gold swaps is included in official reserve assets. Prior to January 2015, cash lent and securities sold under repurchase agreements and gold lent under gold loan transactions are included in official reserve assets while cash and securities received under repurchase agreements are excluded.

Holdings in the Asian Bond Fund and the market value of derivatives with non-resident entities are included in Official reserve assets (Other) from January 2015 and ‘Official reserve assets (FX) prior to January 2015’. These items, however, are included under Gold and Foreign Exchange for reporting on RBA’s balance sheet.

From 20 December 2006, purchases and sales of foreign currency securities are reported for accounting purposes according to the date on which they are contracted (‘trade date’). For the purpose of reporting foreign exchange reserves in this table, however, foreign currency securities transactions are reported according to the date on which settlement takes place (‘value date’).

notes: For information on changes to the RBA's methodology for compiling Australia's foreign reserve holdings from January 2015, please see 'Reporting Australia's Foreign Reserve Holdings' available at <https://www.rba.gov.au/publications/bulletin/2017/dec/pdf/bu-1217-1-reporting-australias-foreign-reserve-holdings.pdf>.


number: Number

ppm: PPM

name: Reserve bank of australia – detected australian counterfeits by denomination

notes: RESERVE BANK OF AUSTRALIA – DETECTED AUSTRALIAN COUNTERFEITS BY DENOMINATION

notes: Australian counterfeits detected in Australia during the quarter. Does not include seized, foreign counterfeits or genuine banknotes submitted to the Reserve Bank of Australia as suspicious. Numbers may be subject to upward revision as counterfeits detected in the quarter may arrive at the Reserve Bank of Australia in following periods.

notes: PPM figures calculated by normalising the number of counterfeit detections over the past year using the average number of banknotes in circulation in the past year.


Banks – off-balance sheet business

notes: Data for the current quarter are preliminary and subject to minor revisions

notes: These data are derived from returns submitted to the Australian Prudential Regulation Authority (APRA) by banks authorised under the Banking Act 1959. APRA assumed responsibility for the supervision and regulation of banks on 1 July 1998. Data prior to that date were submitted to the RBA.

notes: Prior to March 2002, banks reported quarterly to APRA on the Off-balance Sheet Business Return. From that date until the end of 2007, banks reported quarterly on ARF 112.2: Capital Adequacy – Off-balance Sheet Business. Following the introduction of a new capital framework (Basel II) on 1 January 2008, the data between March 2008 and  March 2011 were reported on either ARF 112.2: Capital Adequacy – Off-balance Sheet Business, ARF 112.2A: Standardised Credit Risk – Off-balance Sheet Exposures, or ARF 118.0: Off-balance Sheet Business, depending on whether the bank had been approved by APRA to use a Basel II advanced approach to credit risk. Following the revocation of Australian Prudential Standard APS150 on 30 June 2011, banks using the advanced approach to credit risk have been required to report data with reference to the Basel II framework. From June 2011, data are reported on ARF 112.2A: Standardised Credit Risk – Off-balance Sheet Exposures, ARF 118.0: Off-balance Sheet Business, or ARF 118.1: Other Off-balance Sheet Exposures, depending on whether the bank has been approved by APRA to use a Basel II advanced approach to credit risk. From March 2023 banks data are reported on ARS 112.0 Capital Adequency: Standardised Approach to Credit Risk – Off-balance Sheet Exposures, ARF 118.0: Off-balance Sheet Business, or ARS 113.0: Capital Adequacy: Internal Ratings-based Approach to Credit Risk, depending on whether the bank has been approved by APRA to use a Basel II advanced approach to credit risk. From March 2023, data from foreign branches are excluded as APRA has stopped collecting such data under ARS 112.0 and ARS 113.0.

notes: ‘Consolidated group’, for a locally incorporated bank, refers to the global operations of the bank and its subsidiaries, excluding those involved in insurance, funds management/trustee and non-financial business. For a foreign bank authorised to operate in Australia as a branch, the data relate to the operations of the branch only.

notes: Figures are as at the last business day of the quarter and refer to the principal amount (face value) of the transaction.

notes: From March 2002, banks are required to report separately activity in the banking and trading books for interest rate contracts, foreign exchange contracts, and other derivative contracts. Banking and trading book figures are added to produce the data reported in the table. Before March 2002, exposures were netted across the banking and trading books (except credit derivatives). This has necessitated a break in the series.

notes: ‘Direct credit substitutes’ covers any irrevocable obligations that carry the same credit risk as a direct extension of credit. This includes the issue of guarantees, confirmation of letters of credit, standby letters of credit serving as financial guarantees for loans, securities and any other financial liabilities, and certain bills endorsed under bill endorsement lines. ‘Direct credit substitutes’ does not include credit derivatives, which are shown separately. From March 2023, the scope of 'Direct Credit Subsititues' has been extended to capture Merchant Acquiring Exposures (MAE).

notes: ‘Trade- and performance-related items’ covers contingent liabilities arising from trade-related obligations secured against an underlying shipment of goods and any irrevocable obligations to make a payment to a third party if a counterparty fails to perform a contractual non-monetary obligation. This includes documentary letters of credit issued, acceptances on trade bills, shipping guarantees issued, issue of performance bonds, bid bonds, warranties, indemnities, standby letters of credit in relation to a non-monetary obligation of a counterparty under a particular transaction, and any other trade- and performance-related items.

notes: ‘Commitments and other non-market-related items’ includes lending of securities or posting of securities as collateral, assets sold with recourse, forward asset purchases, partly paid shares and securities, placements of forward deposits, underwriting facilities, standby lines of credit, redraw facilities, undrawn credit card facilities, and all other non-market-related off-balance sheet items. From March 2023 onwards, it also includes unsettled securities commodities and foreign exchange transactions accounted for at settlement date, intraday limits, modelled EAD, other off falance sheet items that are credit substitutes due to the introduction of new Prudential Standard APS 112 from APRA, which also changes the definition of commitment (see Attachement C in Prudential Standard APS 112 for details).

notes: ‘Interest rate contracts – OTC forwards’ covers single currency over-the-counter interest rate forwards including forward rate agreements.

notes: ‘Interest rate contracts – OTC swaps’ covers single currency over-the-counter interest rate swaps.

notes: ‘Interest rate contracts – Other’ covers other single currency over-the-counter and exchange-traded interest rate contracts including interest rate options written and purchased.

notes: ‘Foreign exchange contracts – OTC forwards’ covers over-the-counter foreign exchange forwards including foreign exchange forward contracts involving gold.

notes: ‘Foreign exchange contracts – OTC swaps’ covers over-the-counter foreign exchange swaps including cross currency interest rate swaps and foreign exchange swap contracts involving gold.

notes: ‘Foreign exchange contracts – Other’ covers other over-the-counter and exchange-traded foreign exchange contracts including other foreign exchange contracts involving gold.

notes: ‘Credit derivatives’ covers all credit derivatives contracts, both where protection is purchased and protection is sold. Banks were required to report credit derivatives exposure to APRA from June 2000 following a change to the Off-balance Sheet Business Return. This has necessitated a break in the series.

notes: ‘Other off-balance sheet business’ covers equity contracts including written and purchased options positions, derivatives based on gold and precious metals, base metals, energy and other commodities, and all other derivative activity.


Rural debt by lender

notes: Data are as at June 30 and based on information supplied by lending institutions. These data are affected from time to time by changes in coverage, particularly as changes in the information systems of lenders allow for more accurate identification of rural loans.

notes: From 2020, data for 'All banks' and 'Pastoral and other finance companies' are based on returns collected from each lender participating in the Economic and Financial Statistics (EFS) collection. These data are collected by APRA from banks and registered financial corporations that have $2 billion of business credit or more.

notes: ‘All banks’ data comprise lending by banks and from 1994 to 2019 are taken from statistical table D8, ‘Bank Lending to Business – Selected Statistics’. From 1994 all bank bill acceptances on behalf of the rural sector are included in these data, while prior to 1994, bank bills held by the four majors are included, though bank bills accepted by the four majors but not held by them were generally not included. The ‘All banks’ series is affected by a number of other changes in coverage and definitions. Notably from 1994, there was a break in bank lending due to the addition of lending for fishing, forestry and hunting. These data are derived from returns collected by APRA under the Financial Sector (Collection of Data) Act 2001.

notes: Prior to 1987, the series ‘Pastoral and other finance companies’ only includes data for pastoral finance companies and prior to 1984, included some loans other than to rural producers which were not separately identifiable. From 1987, the series also includes data from other selected finance companies, and from 2003, data from all other finance companies. The ‘Pastoral and other finance companies’ series is derived from returns collected by APRA under the Financial Sector (Collection of Data) Act 2001.

notes: ‘Other government’ includes advances made under the War Service Land Settlement and Agricultural Re-establishment Acts and those made from state and federal funds. Prior to 1981, the series includes state banks’ general banking business to the rural sector. Data include government agency business of state banks. This series is derived from a Reserve Bank survey of government lenders.

notes: For ‘Life insurance companies’, up to and including 1983, data are from ABS Cat No 5621.0; thereafter, until the end of the series, data are from the Insurance and Superannuation Commission Quarterly Bulletin of Statistics.


name: Interest rates and yields – money market

notes: F1  Interest Rates and Yields – Money Market

notes: The 'Target cash rate' is set by the Reserve Bank's Board at each Board meeting. From January 1990 the Bank commenced announcing an explicit target to the market. While the RBA Board has held regularly scheduled meetings since late-1981, it was not until late-1998 that the Bank formalised the current approach of announcing changes shortly after the conclusion of the meeting. Since February 2008, the Bank has announced changes in policy at 2.30pm on the afternoon of the Board meeting; these changes are effective on the following business day. Prior to this (from 1998 until 2007), changes in policy were announced at 9.30am on the day after the Board meeting.

notes: The 'Interbank Overnight Cash Rate' is a weighted average interest rate on overnight unsecured loans between banks in the Australian dollar market (the ‘Cash Market’). From 9 May 2016 the Cash Rate is calculated from transactions settled in the Reserve Bank Information Transfer System (RITS). For more details, see the Cash Rate Procedures Manual <http://www.rba.gov.au/mkt-operations/resources/cash-rate-methodology/cash-rate-procedures-manual.html>. From July 1998 until 6 May 2016, the Cash Rate is the weighted average of the interest rates at which banks borrowed and lent exchange settlement funds overnight, calculated from a survey of Cash Market participants. The 11am call rate is used prior to July 1998.

notes: On 18 March 2020 an out-of-cycle Reserve Bank Board meeting was held, where the cash rate target was adjusted (effective 20 March 2020).

notes: The “highest” interbank overnight Cash Rate represents the highest rate for a transaction in the Cash Market. The “lowest” rate refers to the lowest rate for a transaction in the Cash Market. Prior to 9 May 2016, the series contain the highest and lowest weighted average rate reported by a bank transacting in the Cash Market.

notes: Volume represents the value of Cash Market transactions settled in the Cash Market. From 9 May 2016, this is calculated from transactions settled in the Reserve Bank Information Transfer System (RITS). Prior to 9 May 2016, the volume is the average of the total unsecured funds borrowed and lent in the interbank market for overnight terms, calculated from a survey of Cash Market participants.

notes: The ‘Cash Rate Total Return Index’ measures the performance of an investment earning the Cash Rate, where interest is reinvested each day. The process for calculating the index is specified in the Cash Rate Procedures Manual <http://www.rba.gov.au/mkt-operations/resources/cash-rate-methodology/cash-rate-procedures-manual.html>.

notes:
On days where Expert Judgement is applied because the number of cash market transactions is less than three or the number of cash market participants who are counterparties to cash market transactions is less than 4, the following fields will not be published: Highest Interbank Overnight Cash rate, Lowest Interbank Overnight Cash Rate, and Number of Cash Market Transactions. Expert Judgement is applied in cases of insufficient Cash Market Transactions or when the Cash Rate Administrator, in its Expert Judgement, determines the Transaction Data on a Report Date to be insufficiently robust.

A more detailed explanation of the use of Expert Judgement can be found at:
<https://www.rba.gov.au/mkt-operations/resources/cash-rate-methodology/cash-rate-procedures-manual.html>.

notes: Interest rates and yields are representative. Unless otherwise stated, they are the midpoint of predominant bid and offer quotations in each market as identified by the RBA.

notes:
‘Bank accepted bills/Negotiable Certificates of Deposit’ are estimated end of day bank bill rates sourced from ASX.
DISCLAIMER: End of Day data is part of the ASX Benchmark Data which is proprietary to the ASX Group. All rights are reserved. If you are an existing subscriber of ASX Benchmark Data, any use and reliance on this information is governed by the terms and conditions of your ASX Benchmark Data Subscriber Agreement. To the fullest extent permitted by law, all published ASX Benchmark Data is provided 'as is' and you may not rely on it as being accurate, timely, comprehensive or fit for a particular purpose.
Prior to January 2017, this series was sourced from AFMA. Prior to March 1995 estimated midday yields are shown.

notes:
‘Overnight indexed swaps’ are closing market rates.
Prior to April 2021, this series was sourced from Tullett Prebon (Australia) Pty Ltd.

notes: Publication of this series was discontinued in December 2022.

notes: ‘Treasury Note’ yields are closing yields based on a survey of the market.


name: Foreign exchange turnover against all currencies

notes: F10 FOREIGN EXCHANGE TURNOVER AGAINST ALL CURRENCIES

notes: ‘Turnover’ refers to all foreign exchange transactions in Australia, and is measured in terms of the nominal or notional amount of the contracts. The data are compiled from a survey of financial institutions authorised to deal in foreign exchange in Australia - 'local reporting dealers'. From March 1998, figures reflect all deals struck in Australia, irrespective of where deals may be booked. From March 2007, the data are based on information supplied by dealers at the end of the calendar month and averaged by the number of working days in the month. Previously, information was supplied by dealers on the last Wednesday of the month. From 2013, the data are collected on a quarterly basis, rather than monthly. From April 2018, the data are collected on a semiannual basis, rather than quarterly. Data are now daily averages of foreign exchange turnover for the months of April and October.

notes: For transactions with other ‘local reporting dealers’, the transactions of only one party are recorded. From March 2007, dealers’ related party transactions, or trade between offices and affiliated firms on an ‘arm’s length basis’, are included in either ‘local reporting dealers’, ‘overseas reporting dealers’, 'local other financial institutions' or 'overseas other financial institutions'. Prior to this, such deals were classified only under ‘local reporting dealers’ and 'local other financial institutions'.

notes: Other financial institutions' includes, for example: non-reporting banks, institutional investors, hedge funds & proprietary trading firms, official sector financial institutions. Prior to March 2007 'Other Financials' were included in either 'local reporting dealers' or 'overseas reporting dealers'.

notes: An ‘Outright spot’ transaction is one for receipt or delivery within two business days.

notes: An ‘Outright forward’ transaction is one for receipt or delivery in more than two business days.

notes: ‘FX swaps’ are transactions in which parties agree to exchange two currencies on a specific date and to reverse the exchange at a later date. Only the ‘short leg’ of the transaction – the initial exchange – is recorded.

notes: ‘OTC options’ turnover reflects options contracts that give the right to buy or sell one currency in exchange for another at a specified price up to a specified future date.

notes: 'Currency swaps' are contracts that commit two counterparties to exchange streams of interest payments in different currencies for an agreed period of time and to exchange principal amounts in different currencies at a pre-agreed exchange rate at both initiation and maturity. Only the exchange of principal - the initial exchange - is recorded.

notes: All series are subject to minor breaks owing to the introduction of the new survey format in March 2007, which included a change in survey coverage and the introduction of data on currency swaps. All series are subject to minor breaks in April 2016. Due to changes in the methodology used for compiling spot turnover data by one or more reporting institutions in April 2021, data prior to this point are not directly comparable.

notes: Historical turnover data can be revised owing to the resubmission of data by survey participants.


Exchange rates

notes: Since 1 July 2008, the rate shown for the US dollar is the WM/Reuters Australian Dollar Fix at 4.00 pm (Sydney) on the day concerned, sourced from page AUDFIX on Thomson Reuters and rounded to four decimals. Prior to that, the rate shown for the US dollar was the Reserve Bank's observation of mid-points of buying and selling rates quoted at 4.00 pm (Sydney) on the day concerned. Rates shown for most other currencies are calculated by crossing the rate for the US dollar with the Reserve Bank’s observations of mid-points of buying and selling rates quoted around the same time. These rates are indications of market value only and may differ from those quoted by foreign exchange dealers and other market sources.

notes: The trade-weighted index is calculated on the basis of the rates for the US dollar and other currencies. Details of the method of calculation of the trade-weighted index are set out in the Bulletin for October 2002 and current weights are on the Bank's website.

notes: The value of the Special Drawing Right is calculated by the International Monetary Fund on the basis of a weighted basket of four currencies – US dollar, European euro, Japanese yen and UK pound. The Fund publishes the value of the SDR each day in terms of US dollars; the latest available rate is crossed with the 4.00 pm A$/US$ rate.

notes: In January 1999, 11 countries that were members of the European Economic and Monetary Union (EMU) replaced their national currencies with the euro. These countries were Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. In subsequent years, additional countries have adopted the euro. Please refer to the table below for conversion rates.


Real exchange rate measures

index-march-1995-100: Index, March 1995 = 100

notes: The real exchange rate indices are calculated quarterly according to the methodology in Ellis L (2001), 'Measuring the Real Exchange Rate: Pitfalls and Practicalities', RBA Research Discussion Paper No 2001-04.

notes: The ‘Real trade-weighted index’ is the average value of the Australian dollar in relation to currencies of Australia’s trading partners adjusted for relative price levels using core consumer price indices, where available, from these countries. Where core consumer price indices are not available, headline measures are used. The nominal trade-weighted index is shown in statistical table ‘F11 Exchange Rates’.

notes: The ‘Real import-weighted index’ and ‘Real export-weighted index’ use Australian exports to (and imports from) Australia’s trading partners. The import and export weights are from ABS Cat No 5368.0.


name: Foreign exchange turnover against australian dollars

notes: F9 FOREIGN EXCHANGE TURNOVER AGAINST AUSTRALIAN DOLLARS

notes: ‘Turnover’ refers to all foreign exchange transactions in Australia, and is measured in terms of the nominal or notional amount of the contracts. The data are compiled from a survey of financial institutions authorised to deal in foreign exchange in Australia - 'local reporting dealers'. From March 1998, figures reflect all deals struck in Australia, irrespective of where deals may be booked. From March 2007, the data are based on information supplied by dealers at the end of the calendar month and averaged by the number of working days in the month. Previously, information was supplied by dealers on the last Wednesday of the month. From 2013, the data are collected on a quarterly basis, rather than monthly. From April 2018, the data are collected on a semiannual basis, rather than quarterly. Data are now daily averages of foreign exchange turnover for the months of April and October.

notes: For transactions with other ‘local reporting dealers’, the transactions of only one party are recorded. From March 2007, dealers’ related party transactions, or trade between offices and affiliated firms on an ‘arm’s length basis’, are included in either ‘local reporting dealers’, ‘overseas reporting dealers’, ‘local other financial institutions’ or ‘overseas other financial institutions’. Prior to this, such deals were classified only under ‘local reporting dealers’.

notes: All series are subject to minor breaks owing to the introduction of the new survey format in March 2007, which included a change in survey coverage and the introduction of data on currency swaps. All series subject to minor breaks in April 2016. Due to changes in the methodology used for compiling spot turnover data by one or more reporting institutions in April 2021, data prior to this point are not directly comparable.