Interbank Forex Trading Up Sharply in JulyChina's interbank foreign exchange transactions averaged 2.49 million US dollars per trading day in July, more than 72 percent over the same month last year.The total transactions of the 22 trading days in July was 5.471 billion US dollars-worth, according to the Shanghai-based China Foreign Exchange Center. The weighted averaged exchange rate for July vibrated marginally. The rate was one US dollar for 8.2770 yuan at the beginning of the month, then bounced up to one US dollar for 8.2773 yuan and closed at 8.2770 at the end of the month, an increase of three base points from a month earlier. The exchange rate of Hong Kong dollar against yuan stood at 1:1. 0605 at the end of July, compared with the 1.0612 for the end of June. The yen-yuan rate stood at 100:6.6262, a decrease of 733 base points from a month ago. |
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