China's Inter-bank Forex Trade Surges in May

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Last updated at: (Beijing Time) Wednesday, June 11, 2003

China's Inter-bank Forex Trade Surges in May

China's inter-bank foreign exchange transactions volume amounted to 10.44 billion US dollars in May, with the daily trade volume hitting 549 million US dollars.

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China's inter-bank foreign exchange transactions volume amounted to 10.44 billion US dollars in May, with the daily trade volume hitting 549 million US dollars.

The daily transactions volume was 36 percent higher than the figure for the previous month and 63.7 percent higher than the figure for the same month last year, according to statistics from the Shanghai-based China Foreign Exchange Center.

The total trade volume included 10.202 billion US dollars, 1.091 billion Hong Kong dollars, 37 million euros and 6.422 billion Japanese yen.

The weighted average exchange rate of the US dollar closed at 8.2768 yuan at the end of May, with that of the HK dollar and euro standing at 1.0611 yuan and 9.8624 yuan respectively. The yuan-yenrate closed at 6.9904 at the end of the month.

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