The first half of 2005 saw a dynamic trade on the inter-bank foreign exchange market in China, with a robust month-on-month growth of 85.8 percent in transaction volume.

According to the Shanghai-based national forex swap center, the turnover of four major foreign currencies, namely the US dollar, the Japanese yen, the HK dollar and the euro, amounted to an equivalent of 146.146 billion US dollars in the first half of this year.

The trading volume of the four currencies totaled 25.742 billion US dollars in June alone, according to the center.

The weighted average price of the US dollar remained stable, which ended the half-year trading period at 8.2765 yuan against one dollar, the same as at the end of last year.

The weighted average price of HK dollar started the trading period at 1.30631 yuan against one HK dollar and fluctuated slightly in the following months, ending the trading period at 1.0645 yuan against one HK dollar, four percentage points higher than the end of last year.

That of Japanese yen kept a downward trend and ended at 7.5040 Japanese yen against one yuan, 5,533 percentage points lower than the end of last year.

The weighted average price of the euro ended at 10.0007 yuan against one euro, 12,581 percentage points lower.

The inter-bank borrowing and leading reached 670 million US dollars in the first half of the year.

Source: Xinhua