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November 26, 2016

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Forex turnover falls

CHINA’S foreign exchange market generated a turnover of 10.99 trillion yuan (US$1.6 trillion) in October, a decline from 11.69 trillion yuan in September, the State Administration of Foreign Exchange said yesterday.

The amount includes 1.66 trillion yuan in forex transactions between banks and their clients and 9.33 trillion yuan in interbank forex trading, according to SAFE.

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


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