BEIJING, Aug. 14 (Xinhua Silk Road) -- U.S. dollar (USD) and Renminbi (RMB) became the most traded currency pair in Hong Kong foreign exchange (FX) market in April, reported Xinhua-run Shanghai Securities News on Thursday.
For the first time, April average daily turnover of USD/RMB transactions exceeded the comparable of Hong Kong dollars and USD and stood at 274.0 billion U.S. dollars, data with an FX market survey of Treasury Markets Association (TMA) showed.
The figure accounted for a 30.2 percent share in average daily turnover of April FX transactions in Hong Kong market.
As TMA announcement says, the semi-annual survey is developed based on the Bank for International Settlements (BIS) triennial survey on foreign exchange and derivatives market turnover, but with simplified reporting requirements.
A total of 62 financial institutions, comprising 54 authorized institutions and 8 licensed corporations, participated in the semi-annual survey, according to TMA. To safeguard data confidentiality, the Hong Kong Monetary Authority provided support in data handling and survey administration.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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