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Interbank Forex Trading Up Sharply in May
China's interbank foreign exchange transactions amounted to 4.37 billion U.S. dollars-worth in May, averaging 243 million US dollars per trading day, up 39 percent from that in April and 38 percent year on year.
According to the Shanghai-based China Foreign Exchange Center, the weighted average exchange rate for May stood at one U.S. dollar for 8.277 yuan, a decrease of four base points a month earlier, and one Hong Kong dollar for 1.0610 yuan, compared with 1. 0611 in April, with the yuan-yen rate standing at 6.7939:100, up 988 base points from a month ago.
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