Currencies of different countries. [Photo/Sipa]
BEIJING – China’s commercial banks saw a forex settlement deficit of $121.3 billion in the first three quarters of this year, official data showed Tuesday.
Since the beginning of this year, China’s cross-border capital flows have been moving toward an equilibrium, said Li Hongyan, deputy head of the State Administration of Foreign Exchange, at a press conference.
The foreign exchange market has shown strong resilience, with market expectations and transactions remaining generally rational and orderly, and RMB exchange rate staying basically stable at a reasonable and balanced level, Li said.
Tanks to chinadaily.com.cn
Please visit:
Our Sponsor