According to the statistics of the State Administration of Foreign Exchange (SAFE), the Chinese foreign exchange market (excluding foreign currency pairs, the same below) recorded total transactions of RMB 24.67 trillion (equivalent to USD 3.47 trillion) in January 2024.
In terms of markets, the transactions volume of client market was RMB 3.76 trillion (equivalent to USD 0.53 trillion), and the transactions volume of interbank market was RMB 20.91 trillion (equivalent to USD 2.94 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 8.33 trillion (equivalent to USD 1.17 trillion), and that of the derivatives market was RMB 16.34 trillion (equivalent to USD 2.30 trillion).