BUSINESS Chinese banks report forex settlement surplus in May

BUSINESS

Chinese banks report forex settlement surplus in May

Xinhua

20:06, June 20, 2019

BEIJING, June 20 (Xinhua) -- China's commercial banks reported a net forex settlement surplus in May after registering net deficits for three consecutive months.

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Forex purchases by banks rose 4 percent month on month in May, while sales dropped by 7 percent, leading to a net forex settlement surplus of $6.2 billion, the country's forex regulator said Thursday.

This ended net forex settlement deficits seen in the previous three months, with April reporting a net deficit of $11 billion.  

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