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Forex surplus
Source: Xinhua |
December 17, 2013, Tuesday
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Print Edition
Print Edition
Chinese banks bought foreign exchange worth US$164.7 billion last month while selling US$128.1 billion, netting a surplus of US$36.6 billion. It marked the fourth month of surplus since August, after a deficit in June and July, according to the State Administration of Foreign Exchange. Analysts attributed the surplus to growth of the economy, the yuan’s rise and delay of the US Federal Reserve’s trimming quantitative easing. In January-November, forex purchases stood at US$1.7 trillion, with sales of US$1.46 trillion, giving a surplus of US$239.2 billion.
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