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Interbank Forex Trade Up 30% in October
China's interbank foreign exchange transactions rose to 8.732 billion US dollars in October, with the daily trading volume hitting 485 million US dollars, according to the Shanghai-based China Foreign Exchange Center.

The daily trading volume rocketed 30 percent over that of September and 15 percent over that of the same month in 2001.

Total turnover was 8.47 billion US dollars, 1.548 billion Hong Kong dollars, 6.41 billion yen and 11 million euros.

The weighted average exchange rate of the US dollar closed at 8.2771 yuan at the end of October, a minor decrease of one basis point from the end of September.

The exchange rate of the Hong Kong dollar closed at 1.0612 yuan at the end of October, up four basis points from the end of September.

The yuan-yen rate was 6.7341 compared with 6.8130 at the end of September.

At the end of October, the weighted average exchange rate of the euro had risen 794 basis points from the end of September to close at 8.1720 yuan.

(Xinhua News Agency November 12, 2002)

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