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Chinese banks see RMB167.3 bln deficit in forex sale/purchase in Oct, SAFE

2014-11-19 13:19

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BEIJING, Nov. 18 (Xinhua Finance) -- Chinese banks purchased 841.4 billion yuan of forex and sold 1,008.7 billion yuan of forex in October, incurring a deficit of 167.3 billion yuan, the State Administration of Foreign Exchange (SAFE) announced on Tuesday.

China had seen deficit in forex sales and purchases for three consecutive months by October, and the deficit kept expanding. The deficit was 100.6 billion yuan in September, and was 5.1 billion yuan in August.

China reported surplus in forex sales and purchases in every month of the first seven months, and the surplus declined amid fluctuations.

In the first ten month, China's aggregate forex purchases reached 9,608.4 billion yuan, and forex sales totaled 8,721.7 billion yuan, generating a surplus of 886.7 billion yuan.



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