Forex trade volume hits US$16.9t
Print Edition
CHINA’S foreign exchange market posted a turnover of 110.93 trillion yuan (US$16.9 trillion) last year, the State Administration of Foreign Exchange said yesterday.
It is the first time the annual turnover of the country’s foreign exchange market has been released, according to SAFE.
In December, the foreign exchange market’s turnover of 12.17 trillion yuan included 2.46 trillion yuan in transactions between banks and their clients, and 9.71 trillion yuan in interbank foreign exchange transactions.
The foreign exchange market turnover is forecast to rise this year as more overseas investors enter China’s market.
In 2015, China opened its interbank foreign exchange market to overseas central banks and similar institutions to build up a market-oriented and more transparent interbank foreign exchange market.
So far, 14 overseas central banks and similar institutions have been allowed to trade in China’s interbank foreign exchange market.
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