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Chinese banks boost FX trade

Chinese banks boost FX trade

(China) - Foreign exchange trade volumes between Chinese banks are up 30 percent on last year and have hit a record high, according to official statistics. Chinese banks traded a total of US$26.78 billion in the third quarter of this year, and the average daily amount was US$394 million - up 30 percent on 2002.

In the 68 trading days between July and September, US$26.27 billion, HK$2.677 billion, 1.793 billion Japanese yen and 1.8 million euros were traded, according to the Shanghai-based China Foreign Exchange Center.
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