Finance News

Chinese banks log forex settlement surplus in first three quarters

China's banks saw a net forex settlement surplus of 180 billion U.S. dollars in the first three quarters, the country's forex regulator said Friday.

Forex purchases by banks stood at around 1.86 trillion dollars, while sales reached nearly 1.68 trillion dollars, data from the State Administration of Foreign Exchange (SAFE) showed.

The surplus in forex settlement indicated that China's stable recovery has underpinned the stable operation of the forex market, said Wang Chunying, spokesperson with the SAFE.

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