Chinese banks see net forex sales in March

18th April, 2019 10:27:32 printer

BEIJING: Chinese commercial banks continued to see net foreign exchange sales last month but the volume has narrowed from that in February as cross-border capital flows remained basically stable, the country's forex regulator said Thursday.

Chinese lenders bought around 151.3 billion U.S. dollars worth of foreign currencies and sold 157.5 billion dollars worth last month, resulting in net sales of 6.1 billion dollars, the State Administration of Foreign Exchange (SAFE) said in a statement, reports Xinhua.

The data narrowed from the 15 billion dollars deficit seen in February.

In the first quarter, the banks recorded a net forex sales of 9.1 billion dollars, the data showed.

The Q1 deficit was down 50 percent from that in the same period last year.