China's interbank borrowing, lending and bonds market reported renminbi-dominated transactions totaling 6.9 trillion yuan (US$916.33 billion) in August, averaging 298.5 billion yuan every trading day.

A financial report from the People's Bank of China on Wednesday said the daily average interbank transaction volume in August increased 144.9 billion yuan compared with the same period last year, up 94.4 percent.

According to the report, the weighted average interbank offered rate was two percent in August, which was 0.33 percentage points lower than July, and 0.4 percentage points lower than August last year.

On transactions of mortgaged bond repurchases, the weighted average interest rate was 2.05 percent, down 0.48 percentage points from July and 0.26 percentage points from August 2006.