(MENAFN)The country's forex watchdog revealed on Friday, June 18, that China's commercial banks logged a net forex settlement excess of 146.8 billion yuan (about USD22.81 billion U.S. dollars) last month.
Statistics from the State Administration of Foreign Exchange (SAFE) revealed that Forex buys by banks reached 1.24 trillion yuan, while sales hit almost 1.1 trillion yuan.
In the first five months, China's commercial banks saw a net forex settlement excess of 734.7 billion yuan.
The country's forex market was usually steady in May, stated Wang Chunying, deputy director and spokesperson of SAFE, assigning the forex settlement excess to trade extra because of nonstop growth of China's foreign deal.
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