The use of derivative instruments in the Irish financial market has grown substantially in the period between April 1995 and April 1998, the Central Bank has said.

A survey of the foreign exchange and financial derivatives markets carried out by the Central Bank found that average daily turnover of derivative instruments came to $2.4 billion (£1.7 billion) in April 1998 compared to $1.3 billion (£800 million) three years earlier. It also found that an increasing range of derivative instruments were being used.