BUSINESS China's foreign exchange market turnover at 12.2 trln yuan in February

BUSINESS

China's foreign exchange market turnover at 12.2 trln yuan in February

Xinhua

19:13, March 27, 2020

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File photo: CGTN

BEIJING, March 27 (Xinhua) -- China's foreign exchange (forex) market reported a turnover of 12.2 trillion yuan (about 1.74 trillion U.S. dollars) in February, official data showed Friday.

Specifically, turnover of forex transactions between banks and their clients totaled 2.18 trillion yuan in February, while that of interbank forex transactions stood at 10.02 trillion yuan, according to the State Administration of Foreign Exchange (SAFE).

In the first two months of this year, forex market turnover totaled 25.63 trillion yuan, the SAFE said.

Affected by the epidemic situation, the data from Hubei and some other regions were reported by parts of financial institutions.

In 2015, China opened its interbank forex market to overseas central banks and similar institutions to advance a market-oriented shift and transparency.

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