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China's Half-Year Interbank Forex Trade Surges
China's interbank foreign exchange trade amounted to some 30.6 billion U.S. dollars-worth for the first half of the year, according to the latest figures released by the Shanghai-based China Foreign Exchange Trade System.
This means an average of 249 million U.S. dollars for each of the 123 trading days, a year-on-year increase of 62 percent.
The total turnover included some 30.219 billion U.S. dollars, 1. 142 billion Hong Kong dollars, and 30.293 billion Japanese yen.
The weighted average exchange rate of the U.S. dollar remained stable, with the U.S. currency closing at 8.2767 yuan at the end of June, down only seven basis points from the end of last year.
The Hong Kong dollar ended June at 1.0612 yuan, up six points from the end of last year, with the yuan-yen rate standing at 6. 6996:100, compared with 7.1879:100 at the end of 2000.
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