April A Good Month For China
The inter-bank foreign exchange market in China reached US$1.282 billion in average daily transaction volume or 40% month-on-month growth last April, according to the Xinhua Website’s article entitled China’s Foreign Exchange Trade Surges In April.
The turnover of the four major foreign currencies amounted to US$28.215 billion for the twenty two (22) trading days of April. This totaled US$27 billion in trade for the period and US$91.397 billion for the first four months of 2005. Converted on a daily basis, the daily transaction volume reached US$1.115 billion. The four major currencies are the US Dollar, the Japanese Yen, the Hong Kong dollar, and the Euro.
With an average weighted price of the US Dollar staying stable for the month, the dollar resulted at 8.2765 to a Yuan at the end of the trading period. The weighted price of the Euro, on the other hand, was down by 230% points month-on-month at 10.66688 to a Yuan.
The turnover of the four major foreign currencies amounted to US$28.215 billion for the twenty two (22) trading days of April. This totaled US$27 billion in trade for the period and US$91.397 billion for the first four months of 2005. Converted on a daily basis, the daily transaction volume reached US$1.115 billion. The four major currencies are the US Dollar, the Japanese Yen, the Hong Kong dollar, and the Euro.
With an average weighted price of the US Dollar staying stable for the month, the dollar resulted at 8.2765 to a Yuan at the end of the trading period. The weighted price of the Euro, on the other hand, was down by 230% points month-on-month at 10.66688 to a Yuan.
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