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Chinese forex market turnover hits 9.79 trln yuan in April

Xinhua, May 27, 2016 Adjust font size:

China's foreign exchange (forex) market posted turnover of 9.79 trillion yuan (1.49 trillion U.S. dollars) in April, down from 10.71 trillion yuan in March, the State Administration of Foreign Exchange (SAFE) said Friday.

The amount includes 1.66 trillion yuan in forex transactions between banks and their clients and 8.13 trillion yuan in interbank forex transactions, SAFE said.

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

So far, 14 overseas central banks and similar institutions have been allowed to trade on China's interbank forex market.

China's forex market turnover in 2015 was 110.9 trillion yuan, data from SAFE showed. Endi