Banks post surplus in forex dealings
Source: Xinhua |
December 25, 2010, Saturday
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Print Edition
Print Edition
THE surplus of Chinese banks'foreign exchange purchases over sales in client dealings in November totaled US$45.3 billion, the State Administration of Foreign Exchange said yesterday.
Chinese banks' November foreign exchange surplus was the second-highest monthly glut of this year, behind October's US$57.6 billion.
In November, Chinese institutional and individual clients sold US$84.4 billion of foreign exchange to banks while purchasing US$129.7 billion, a statement on the SAFE website said.
The figure contributed partly to changes in China's foreign exchange reserves but did not include banks' own foreign exchange transactions and interbank transactions.
China's foreign exchange reserves rose 16.5 percent year on year in the third quarter to US$2.64 trillion.
Chinese banks' November foreign exchange surplus was the second-highest monthly glut of this year, behind October's US$57.6 billion.
In November, Chinese institutional and individual clients sold US$84.4 billion of foreign exchange to banks while purchasing US$129.7 billion, a statement on the SAFE website said.
The figure contributed partly to changes in China's foreign exchange reserves but did not include banks' own foreign exchange transactions and interbank transactions.
China's foreign exchange reserves rose 16.5 percent year on year in the third quarter to US$2.64 trillion.
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