BEIJING, Dec. 20 (Xinhua) -- China's industrial banks posted a web foreign exchange settlement deficit of 39.6 billion yuan, or 5.6 billion U.S.
BEIJING, Dec. 20 (Xinhua) — China’s industrial banks posted a web foreign exchange settlement deficit of 39.6 billion yuan, or 5.6 billion U.S. {dollars}, in November, the nation’s foreign exchange regulator mentioned Friday.
The studying expanded from a deficit of 31.1 billion yuan registered in October, based on the State Administration of International Alternate (SAFE).
Foreign exchange purchases by banks stood at 1.04 trillion yuan final month, whereas gross sales reached about 1.08 trillion yuan.
The info led to a foreign exchange settlement deficit of 399.9 billion yuan for the primary 11 months of the yr, based on the SAFE.
The foreign exchange settlement stayed steady in November as market demand and provide remained typically balanced, mentioned SAFE spokesperson Wang Chunying.
The fundamental pattern of the Chinese language financial system sustaining regular development towards long-term sound improvement stays unchanged, Wang mentioned, including that high-quality financial improvement will provide a strong basis for a steady foreign exchange market.