BUSINESS China's foreign exchange market turnover at 18.99 trln yuan

BUSINESS

China's foreign exchange market turnover at 18.99 trln yuan

Xinhua

22:49, May 24, 2019

Photo: VCG

BEIJING, May 24 (Xinhua) -- China's foreign exchange (forex) market reported turnover of 18.99 trillion yuan (about $2.83 trillion) in April, according to official data released on Friday.

Turnover of forex transactions between banks and their clients totaled 2.22 trillion yuan last month, while that of interbank forex transactions stood at 16.77 trillion yuan, according to the State Administration of Foreign Exchange (SAFE).

In the January-April period, forex market turnover amounted to 70.79 trillion yuan, the SAFE said.

In 2015, China opened its interbank forex market to overseas central banks and similar institutions to push forward a market-oriented and more transparent interbank forex market.

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