The Data: Coverage, Periodicity, and Timeliness

Coverage characteristics

The purpose of the Reserve Bank of New Zealand Foreign Exchange (FX) turnover survey is to provide information on the New Zealand dollar flows and turnover in the Australasian time zone. Participants in the survey are inter-bank New Zealand dollar price-makers in this time zone.

Data are quoted in millions of New Zealand dollars.

The following cross rates are collected and published:

(a) NZD against the following currencies – USD, EUR, JPY, GBP, CHF, CAD, AUD, “Other”;

(b) USD against the following currencies - EUR, JPY, GBP, CHF, CAD, AUD, “Other”;

(c) EUR against the following currencies - JPY, GBP, CHF, CAD, AUD, “Other”.

For the above “cross rates” the following types of transactions are collected and published:

(a) Spot

(b) Outright forwards

(c) Foreign exchange swaps

Data covering daily and monthly averages are available on our website, with selected series beginning in July 2004.

Periodicity

Daily and monthly.

Timeliness

The survey summary is updated monthly on or around the 15th of the month. See the "Advance Release Calendar" for details.

Access by the public

Advance release calendar

The "Advance Release Calendar" is updated and released each Friday on the website. This is a long-term plan of scheduled releases.

Integrity

Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual Responses

The Reserve Bank of New Zealand publishes only aggregated data. Individual institutional data remain confidential subject to the bank’s legal obligations.

The RBNZ collects, monitors and analyses the data in undertaking its market operations functions. These operations involve liaising with and monitoring financial markets, in order to ensure effective implementation of monetary policy and the maintenance of the RBNZ's capacity to intervene in financial markets if required.

Provision of information about revisions and advance notice of major changes in methodology

Provisional data are italicised. Data are deemed provisional when a series is under review. New data are in bold font in the latest release. Revisions are generally published when tables are updated and released and are marked in bold. Should revisions need to be made more promptly, a note is posted on the Internet website under "Revisions to Tables".

Normally there are no revisions to these data as they are collected directly from the market.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

All data are indicative foreign exchange turnover collected daily. Participants in the survey are inter-bank New Zealand dollar price-makers in the Australasian time zone.

Respondents complete a daily survey.

Dissemination of ... that support statistical cross-check and provide assurance of reasonableness

A reasonableness check is undertaken prior to the data release.