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Chinese Foreign Exchange Market Remains Stable
China's interbank foreign exchange market was stable Wednesday, showing no big fluctuation in either the volume of transactions or foreign exchange rates.
Sources with the Shanghai-based China Foreign Exchange Center said both the opening and closing interbank exchange rates of the US dollar against Chinese yuan stood at 8.2769 yuan with an intraday high of 8.2772 yuan and a low of 8.2735 yuan.
The intraday transactions volume reached 240 million US dollars, compared with the average transactions volume of 290 million US dollars for each of the trading days in August.
The exchange rate of the Hong Kong dollar against the yuan stood at 1.0605 at opening and closed at 1.0608 with an intraday transaction volume of 13.38 million yuan.
The weighted averaged exchange rate for one US dollar and one Hong Kong dollar stood at 8.2769 and 1.0605, respectively.
A spokesman for the Shanghai branch of the Bank of China also reported business as usual in retail foreign exchange transactions despite the devastating attacks in the United States Tuesday.
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