50% of the testosterone in a woman's body comes from the conversion of other androgens, while the other 50% is produced directly in the ovary and the adrenal glands in equal parts.
Specifically, women produce between 0.1 and 0.4 mg of testosterone daily, while men produce between 5 and 7 mg daily.
99% of a woman's testosterone is bound to a protein called sex hormone-bound globulin (SHBG), which does not allow it to function. Therefore, only 1% of testosterone will be in free form and may have an effect on the body.
As menopause approaches, there is a decrease in androgen levels. However, the ovaries of menopausal women will continue to produce testosterone constantly.