Chinese banks see net forex sales in October

2019-11-19
Xinhua

BEIJING — Chinese commercial banks continued to see net foreign exchange sales last month but with a narrower deficit, data from the country's forex regulator showed on Nov 19.

Chinese lenders bought $138 billion worth of foreign currencies and sold $142.4 billion worth in October, the State Administration of Foreign Exchange (SAFE) said in a statement.

The reading resulted in net sales of $4.4 billion, narrowing from the average deficit seen in the first nine months of the year.

In the first ten months, the banks recorded a net forex sales of $52.6 billion, the data showed.