China's Inter-bank Forex Trade Shoots up in The First Quarter

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Last updated at: (Beijing Time) Monday, April 15, 2002

China's Inter-bank Forex Trade Shoots up in The First Quarter

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The turnover of China's inter-bank foreign exchange trade reached 19.78 billion U.S. dollars for the first quarter of this year, according to the latest statistics released by the Shanghai-based China Interbank Trade System.

The quarterly trading volume represented 341 million U.S. dollars per day, an increase of nearly 25 percent over the same period last year.

A total of 58 inter-bank foreign exchange transactions was made during the quarter, involving 19.5 billion U.S. dollars,1.04 billion Hong Kong dollars and 12.85 billion Japanese yen.

The U.S. dollar was traded between 8.2765 and 8.2768 yuan from January 1 to February 12 and the weighted average exchange rate of the U.S. dollar was 8.2768 yuan in early January, and 8.2774 yuan by late March.

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