Business
09:24, 21-Dec-2018
China sees stable forex market in November
Updated
08:59, 24-Dec-2018
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China's foreign exchange (forex) market remained stable with balanced demand and supply last month, the State Administration of Foreign Exchange (SAFE) said Thursday.
The supply and demand of foreign currencies was basically balanced and the long-term stability in China's forex market has not changed, SAFE spokesperson Wang Chunying said.
"The Chinese currency (renminbi) has basically strengthened against the greenback since November, while foreign capital utilization, outbound investment and cross-border financing have been steady," Wang said.
Banks bought 154.4 billion U.S. dollars worth of foreign currencies and sold 172.3 billion dollars in November, resulting in net sales of 17.9 billion dollars, SAFE data showed.
In the January-November period, net forex sales amounted to 48.9 billion dollars.
Source(s): Xinhua News Agency