Data from Chinese financial regulator State Administration of Foreign Exchange (SAFE) indicates that China’s currency exchange market posted turnover of 9.79 trillion yuan (USD $1.5 trillion) in April 2016, down about 9% from 10.71 trillion (USD $1.6 trillion) yuan in March., as reported by Reuters.
The amount breaks down between 1.66 trillion yuan in forex transactions between banks and their clients, and 8.13 trillion yuan in interbank forex transactions.
In 2015, China opened its interbank forex market to overseas central banks and selected other financial institutions to promote a market-oriented, more transparent domestic interbank forex market.
To date, 14 overseas central banks and similar institutions have been allowed to trade on China’s interbank forex market.