Chinese Banks Log Forex Settlement Surplus of 329 Billion Yuan in August
MT Newswires Live
Yesterday
Chinese banks recorded a net foreign exchange settlement surplus of 329 billion yuan in August, according to data released by the State Administration of Foreign Exchange on Tuesday.
Banks settled 1.709 trillion yuan in forex and sold 1.380 trillion yuan during the month.
Banks also handled 5.272 trillion yuan in cross-border receipts and 4.849 trillion yuan in cross-border payments on behalf of clients.
From January to August, banks logged 2.326 trillion in net foreign exchange settlement surplus as settlements reached 14.311 trillion yuan and sales hit 11.985 trillion yuan.
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