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在线翻译:
szdaily -> Business_Markets
Supply and demand in forex market ‘balanced’
    2017-December-20  08:53    Shenzhen Daily

SUPPLY and demand in the foreign exchange market continued to be balanced in November, China’s State Administration of Foreign Exchange (SAFE) said late Monday.

The statement from the SAFE followed its release of data showing China’s commercial banks sold a net US$7.5 billion of foreign exchange in November, compared with a net purchase of US$2.8 billion in October.

In September, Chinese lenders saw a net foreign exchange purchase of US$300 million, the first settlement surplus in more than two years. In October, they recorded a higher net forex purchase of US$2.8 billion.

In the first eleven months, banks bought US$1.47 trillion of foreign currencies and sold US$1.59 trillion, the SAFE said.

Despite November’s deficit, the regulator said supply and demand in the forex market has remained balanced, with cross-border capital flows through major channels staying at a stable and reasonable level.

“The willingness of market entities to sell foreign currencies was stronger than a year ago,” it said.

Forex settlement for goods trade has maintained a surplus, while capital inflows and forex purchase through foreign investments increased.

Individuals were also less willing to buy foreign currencies last month, the SAFE said. The amount of foreign currencies purchased in November was 44 percent down year on year and 15 percent lower than the January-October monthly average.

With a firming economy and stabilizing yuan, China’s forex reserves rose for the 10th month in a row to US$3.12 trillion at the end of November, it said.

(SD-Agencies)

 

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