21:57, 19-Mar-2018
China Economy: Banks sell net $8.2 bln in forex in February
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Looking at the Chinese economy now. China's forex regulator said Monday that commercial banks sold a net 8.2 billion U.S. dollars in foreign exchange in February. That was a sharp rise compared with 0.9-billion-dollars in net sales in January.
A spokesman for the Administration of Foreign Exchange said that domestic companies received large amounts of settlements in foreign currencies in January ahead of the Spring Festival holiday. The spokesman said that foreign exchange activity returned to normal in February. China's central bank also increased the foreign exchange supply in February as demand increased.