Foreign exchange trade surges in April

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Foreign exchange trade surges in April
(Xinhua)
Updated: 2005-05-16 09:02

April saw dynamic trade on the inter-bank foreign exchange market in China, with a robust month-on-month growth of 40 percent in average daily transaction volume, which reached US$1.282 billion.

According to the Shanghai-based national forex swap center, turnover of the US dollar, the Japanese yen, the HK dollar and the euro, amounted to US$28.215 billion for the 22 trading days in April.

The total included US$27.71 billion in trade. The average weighted price of the US dollar remained stable, ending the trading period at 8.2765 yuan against one dollar, balancing that for the end of the previous month, sources with the swap center said.

The weighted price of the euro ended the trading period at 10.66688 yuan against one euro, with the turnover down 230 percentage points month on month.

The turnover of the four foreign currencies on the Shanghai-based national forex swap center totaled US$91.397 billion in the first four months this year, with the daily transaction volume reaching US$1.115 billion.

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