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Foreign Exchange Market Sees Steady Operation
News from the China Foreign Currency Exchange Center shows that inter-bank foreign currency exchange system operated steadily and transaction tended to become active in 2000. The foreign exchange market, as a whole, maintained the situation of supply outdoing demands, and the exchange rate of Renminbi was stable.
In the whole year of 2000, the inter-bank foreign exchange market conducted 251 transactions, with a total business volume of US$42.175 billion and the average daily transaction worth US$168 million, up 34.1 percent over 1999.
The development trend of US dollar in 2000 was stable as a whole. The daily weighted average price was 8.2799 at the highest, and 8.2768 at the lowest standing at 31 points. In terms of percentage, it was only 3.7/10,000th . On December 29, 2000, the daily weighted average price of US dollar was 8.2774, down by 21 points from the figure 8.2795 on December 30, 1999.
By PD Online Staff Liang Faming
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