China's forex volumes quadruple since 2006, reach $14.2 trillion in 2011
If anyone needed further data why Chinese market is by far the next big thing in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term then State Administration of Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (SAFE) is releasing the following information: China's foreign exchange market saw its transaction volume hit 14.2 trillion U.S. dollars in 2011, up four times from 2006. From 2007 to 2011, forex transaction volumes soared by an annual average of 40.3 percent, the said in a statement.
At the end of 2011 there were 319 authorized businesses operating in the foreign exchange activity, out of them 318 were active and the daily average transaction volume reached 58.1 billion U.S. dollars.
China allowed the direct trading of the yuan against the Australian and Canadian dollars in November last year, following the introduction of the Malaysian ringgit and the Russian ruble into the interbank forex market in 2010. A total of nine foreign currencies, including the U.S. dollar, HK dollar, Japanese yen, euro and British pound, can be traded on China's interbank foreign exchange market.
China Union Pay was allowed to start processing forex deposits again after a 3 months hiatus just yesterday. In the past year or so Chinese government is taking gradual steps to liberalize the Yuan and allow the creation of offshore Yuan trading hubs in Hong Kong and UK.
The Chinese regulators recently allowed Yuan Options as well as futures contracts on the CME. FXDD offers USD/CNH trading and so does OANDA with USD/CNY pair.
If anyone needed further data why Chinese market is by far the next big thing in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term then State Administration of Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (SAFE) is releasing the following information: China's foreign exchange market saw its transaction volume hit 14.2 trillion U.S. dollars in 2011, up four times from 2006. From 2007 to 2011, forex transaction volumes soared by an annual average of 40.3 percent, the said in a statement.
At the end of 2011 there were 319 authorized businesses operating in the foreign exchange activity, out of them 318 were active and the daily average transaction volume reached 58.1 billion U.S. dollars.
China allowed the direct trading of the yuan against the Australian and Canadian dollars in November last year, following the introduction of the Malaysian ringgit and the Russian ruble into the interbank forex market in 2010. A total of nine foreign currencies, including the U.S. dollar, HK dollar, Japanese yen, euro and British pound, can be traded on China's interbank foreign exchange market.
China Union Pay was allowed to start processing forex deposits again after a 3 months hiatus just yesterday. In the past year or so Chinese government is taking gradual steps to liberalize the Yuan and allow the creation of offshore Yuan trading hubs in Hong Kong and UK.
The Chinese regulators recently allowed Yuan Options as well as futures contracts on the CME. FXDD offers USD/CNH trading and so does OANDA with USD/CNY pair.