Home Forex Market Turnover in Chinese forex market hits USD2.58t – MENAFN.COM

Turnover in Chinese forex market hits USD2.58t – MENAFN.COM

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(MENAFN) China was announced to have logged around USD2.58 trillion in the turnover of its foreign exchange (forex) market for the fifth month of this year.

By May, turnover of forex dealings among banks and customers hit 2.39 trillion yuan while turnover of forex transactions of interbanks reached 15.29 trillion yuan.

According to the State Administration of Foreign Exchange (SAFE), the overall forex market turnover from January to May hit 88.46 trillion yuan.

It comes as the country inaugurated its interbank forex market to central banks and similar institutions abroad with an aim to achieve a market-oriented shift and transparency.

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