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Last updated at: (Beijing Time) Monday, February 11, 2002

China's Interbank Forex Trade Surges in January

China's interbank foreign exchange transactions amounted to 416 million U.S. dollars daily in January, up nearly 50 percent over the same month last year, according to figures released by the Shanghai-based China Foreign Exchange Center.


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China's interbank foreign exchange transactions amounted to 416 million U.S. dollars daily in January, up nearly 50 percent over the same month last year, according to figures released by the Shanghai-based China Foreign Exchange Center.

The total turnover of 8.322 billion U.S. dollars in the 20 trading days in the month includes some 8.23 billion U.S. dollars,491 million Hong Kong dollars and 3.945 billion Japanese yen.

The exchange rate of the U.S. dollar fluctuated slightly in January. The weighted average exchange rate of the U.S. dollar began at 8.2768 yuan at the beginning of the month and closed at 8.2765 yuan at the month's end.

The weighted average exchange rate of the HK dollar ended the month at 1.0609 yuan, a rise of four basis points from the end of last December.

The yuan-yen rate stood at 6.2408:100 at the end of January, down by 604 basis points from the end of last December.





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