BEIJING — China's foreign exchange (forex) market recorded a turnover of 18.46 trillion yuan (about $2.85 trillion) in January, official data showed.

The figure was down from 22.64 trillion yuan in December 2020, according to the State Administration of Foreign Exchange.

Specifically, the turnover of forex transactions between banks and their clients totaled 3.11 trillion yuan last month, while that of interbank forex transactions stood at 15.34 trillion yuan.