China's foreign exchange market turnover at 17.68 trln yuan

BEIJING -- China's foreign exchange (forex) market reported a turnover of 17.68 trillion yuan (about $2.58 trillion) in May, according to data released Friday.

Specifically, turnover of forex transactions between banks and their clients totaled 2.39 trillion yuan last month, while that of interbank forex transactions stood at 15.29 trillion yuan, according to the State Administration of Foreign Exchange (SAFE).

In the first five months of this year, forex market turnover totaled 88.46 trillion yuan, the SAFE said.

In 2015, China opened its interbank forex market to overseas central banks and similar institutions to advance a market-oriented shift and transparency.