The State Administration of Foreign Exchange (SAFE) released the data of China's foreign exchange market transactions in January 2024

Statistics from the State Administration of Foreign Exchange show that in January 2024, the total turnover of China's foreign exchange market (excluding foreign currency pairs market, the same below) was 24.67 trillion yuan (equivalent of 3.47 trillion dollars)。Among them, bank to customer market transactions 3.76 trillion yuan (equivalent to 0.$53 trillion), the interbank market turnover of 20.91 trillion yuan (equivalent of 2.$94 trillion);Spot market total turnover 8.33 trillion yuan (equivalent to 1.$17 trillion), the cumulative volume of derivatives market 16.34 trillion yuan (equivalent of 2.$30 trillion)。