BUSINESS Chinese banks report forex settlement surplus in January

BUSINESS

Chinese banks report forex settlement surplus in January

Global Times

06:39, May 09, 2020

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(Photo: Xinhua)

China's commercial banks saw a net forex settlement surplus of 44.2 billion yuan (6.4 billion US dollars) in January, the country's forex regulator said Friday.

Forex purchases by banks stood at 1.01 trillion yuan in January, while sales reached 962.5 billion yuan, data from the State Administration of Foreign Exchange showed.

Last year, the accumulative amount of foreign exchange settlement and sales by banks were 12.76 trillion yuan and 13.15 trillion yuan, with the accumulative deficit of 384.3 billion yuan.

Affected by the epidemic situation, the data in Hubei and some other regions were reported by parts of financial institutions.

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