Chinese banks see forex settlement excess
(MENAFN)Statistics from the country's forex watchdog revealed on Friday, April 23, Chinese banks witnessed foreign exchange (forex) settlement excess in March.
The State Administration of Foreign Exchange stated that the amount of forex settlement by banks was USD221.7 billion, while the amount of forex sales was USD202 billion, resulting in an excess of USD19.7 billion.
The statistics revealed that in the first quarter, the banks saw a forex settlement excess of USD88.5 billion.
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