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Chinese sold more forex via banks
Source: Xinhua |
February 29, 2012, Wednesday
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Print Edition
Print Edition
CHINESE people sold more foreign currencies than they bought through Chinese banks in January, ending a two-month period of net purchase and generating a US$19.4-billion foreign exchange surplus in banks for the month, the country's foreign exchange regulator said yesterday.
Chinese institutional and individual clients exchanged US$123.6 billion in foreign currencies for yuan in January, and bought US$104.2 billion in foreign exchange from banks, according to a statement by the State Administration of Foreign Exchange on its website.
Compared with deficits in the last two consecutive months, banks' January foreign exchange surplus came as a result of the tradition that Chinese people and firms tend to settle their foreign currency assets during the first month of the year.
In January, Chinese banks also bought a net of US$3.4 billion in foreign exchange from customers via over-the-counter transactions.
The overseas business-related proceeds of China's domestic institutional and individual clients via banks totaled US$183.2 billion.
Chinese institutional and individual clients exchanged US$123.6 billion in foreign currencies for yuan in January, and bought US$104.2 billion in foreign exchange from banks, according to a statement by the State Administration of Foreign Exchange on its website.
Compared with deficits in the last two consecutive months, banks' January foreign exchange surplus came as a result of the tradition that Chinese people and firms tend to settle their foreign currency assets during the first month of the year.
In January, Chinese banks also bought a net of US$3.4 billion in foreign exchange from customers via over-the-counter transactions.
The overseas business-related proceeds of China's domestic institutional and individual clients via banks totaled US$183.2 billion.
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