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Chinese Banks'forex Surplus Hits 29.1 bln U.S. Dollars in August
Sep 29,2010 10:09CST
data analysis
Source:SMM

BEIJING, Sept. 28 (Xinhua) -- The State Administration of Foreign Exchange (SAFE) said Tuesday Chinese banks' foreign exchange surplus on behalf of clients hit 29.1 billion U.S. dollars in August, up 9.4 percent from the previous month.

Foreign exchange sales to banks totaled 113.2 billion U.S. dollars in August while foreign exchange purchases from banks amounted to 84.1 billion U.S. dollars, according to a statement on the SAFE website.

On behalf of clients, Chinese banks received 163.4 billion U.S. dollars and paid 137.1 billion U.S. dollars in overseas-related business in August.

The statement did not give reasons for the surplus rise.

The surplus of Chinese banks' forex purchases and sales on behalf of clients totaled 26.6 billion U.S. dollars in July.

The banks purchased 114.2 billion U.S. dollars of forex and sold 87.6 billion U.S. dollars of forex to clients in July.
 

exchange rate
SAFE

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