The turnover of China's inter-bank foreign exchange trade reached US$19.78 billion for the first quarter of this year, according to the latest statistics released by the Shanghai-based China Interbank Trade System.
The quarterly trading volume represented 341 million U.S. dollars per day, an increase of nearly 25 percent over the same period last year.
A total of 58 inter-bank foreign exchange transaction deals were made during the quarter, involving US$19.5 billion, 1.04 billion Hong Kong dollars and 12.85 billion Japanese yen.
The U.S. dollar was traded between 8.2765 and 8.2768 yuan from January 1 to February 12 and the weighted average exchange rate of the U.S. dollar was 8.2768 yuan in early January, and 8.2774 yuan by late March.
(People's Daily April 15, 2002)