According to the statistics of the State Administrationof Foreign Exchange (SAFE), the Chinese foreign exchange market (excludingforeign currency pairs, the same below) recorded total transactions of RMB 19.45 trillion (equivalent to USD 3.06 trillion) in January 2022.
In terms of markets, the transactions volume of clientmarket was RMB 3.32 trillion(equivalent to USD 0.52 trillion), and the transactions volume of interbankmarket was RMB 16.13 trillion(equivalent to USD 2.54 trillion). Interms of products, the cumulative transactions volume of the spot market wasRMB 6.52 trillion (equivalent to USD 1.03 trillion), and that of the derivatives market was RMB 12.93 trillion (equivalent to USD 2.03 trillion).