Friday, May 27, 2016

Chinese forex market turnover hits 9.79t yuan in April

Chinese forex market turnover hits 9.79t yuan in April

A residents shows China's yuan and US dollar banknotes in Qionghai, South China's Hainan province, Jan 7, 2016. [Photo/Xinhua]

BEIJING - China's foreign exchange (forex) market posted turnover of 9.79 trillion yuan ($1.49 trillion ) in April, down from 10.71 trillion yuan in March, the State Administration of Foreign Exchange (SAFE) said Friday.

The amount includes 1.66 trillion yuan in forex transactions between banks and their clients and 8.13 trillion yuan in interbank forex transactions, SAFE said.

In 2015, China opened its interbank forex market to overseas central banks and similar institutions to promote a market-oriented, more transparent interbank forex market.

So far, 14 overseas central banks and similar institutions have been allowed to trade on China's interbank forex market.


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