Australian FX daily turnover edges up to AUD 278.812 billion in April 2026
Australian FX turnover averaged AUD 278.812 billion a day in April 2026, up from October but below April 2025. Higher forwards and FX swaps activity offset lower spot turnover, according to the RBA’s F10 table.
April 2026 average daily Australian foreign-exchange turnover reached AUD 278.812 billion, according to the Reserve Bank of Australia’s Table F10, a modest recovery from AUD 272.814 billion in October 2025. The increase was uneven across instruments: forwards and FX swaps rose while spot trading declined. Overall activity remained below the April 2025 reading of AUD 319.579 billion.
The historical comparison places the latest result between the elevated April 2025 observation and the lower levels recorded before it. April 2026 turnover exceeded every survey reading from April 2022 through October 2024, but did not regain the highest observation in the April 2022–April 2026 history. That supports a reading of partial recovery rather than a fresh high or an uninterrupted expansion.
Forwards and swaps offset weaker spot activity
FX swaps remained the largest instrument category, averaging AUD 162.095 billion a day, compared with AUD 153.742 billion in October 2025. Forwards rose to AUD 55.35 billion from AUD 45.721 billion, overtaking spot turnover, which fell to AUD 51.38 billion from AUD 63.699 billion. Currency swaps also increased, while options declined; both remained much smaller categories than FX swaps, forwards or spot.
The composition matters more than the small rise in the headline alone. Higher aggregate turnover did not reflect a broad-based increase across trading instruments. Instead, the balance shifted toward forwards and FX swaps relative to spot. The result therefore indicates more transaction activity overall, but not a uniform strengthening across the Australian FX market.
For liquidity analysis, that distinction argues against treating the headline increase as evidence that execution conditions improved across all products. Turnover records trading activity, not the cost or ease of completing a transaction. Likewise, the larger forwards and swaps readings do not by themselves establish why institutions traded more or whether cross-border capital inflows increased.
F10 covers reporting institutions in Australia and turnover against all currencies, rather than only Australian-dollar pairs or retail trading. Its figures are survey-month daily averages, not monthly totals or outstanding positions. All five instrument categories are already included in the overall total.
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