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Chinese banks report forex settlement surplus in H1

Abstract : China's commercial banks saw a net forex settlement surplus of 553.1 billion yuan (about 78.6 billion U.S. dollars) in the first half this year, the country's forex regulator said Friday.

BEIJING, July 17 (Xinhua) — China’s commercial
banks saw a net forex settlement surplus of 553.1 billion yuan (about
78.6 billion U.S. dollars) in the first half this year, the country’s
forex regulator said Friday.

Forex purchases by banks stood at 6.7 trillion yuan from January to
June, while sales came in at 6.15 trillion yuan, data from the State
Administration of Foreign Exchange (SAFE) showed.

The amount of forex settlement and sales by banks for customers stood
at 5.7 trillion yuan and 5.35 trillion yuan, respectively, with a
settlement surplus of 349.4 billion yuan.

In June alone, commercial banks saw a net forex settlement surplus of 6 billion yuan.

The country’s cross-border capital flows are generally stable, and
the forex market is basically balanced in supply and demand in the first
half, said Wang Chunying, deputy director and spokesperson of SAFE.
Enditem

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Source: Chinese banks report forex settlement surplus in H1

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