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The regulator said forex supply and demand

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MessagePosté le: Ven 14 Sep - 07:39 (2018)    Sujet du message: The regulator said forex supply and demand Répondre en citant

BEIJING www.hydroflaskclearance.com , Sept. 18 (Xinhua) -- Chinese commercial banks recordeda smaller net foreign exchange (forex) settlement deficit in Augustas cross-border capital flows stayed balanced and stable, the forexregulator said Monday.

Commercial banks bought 141.2 billion U.S. dollars worth offoreign currencies and sold 145 billion dollars last month,resulting in net sales of 3.8 billion dollars, down 75 percent fromJuly, according to the State Administration of Foreign Exchange(SAFE).

In the first eight months of this year, banks bought 1.04trillion dollars of foreign currency and sold 1.15 trilliondollars Hydro Flask Bottle Clearance , SAFE said in a statement.

The regulator said forex supply and demand in August has beenmore balanced than the previous month, while capital inflows fromtrade and investment have increased.

The willingness for market entities to sell foreign currenciesincreased while their willingness to buy hit a new low, itsaid.

In line with the net forex sales data, China's forex reservesrose for the 7th month in a row in August as the yuan gainedstrength and pressure of massive capital outflow eased, previousdata from the central bank showed.

Forex reserves reached 3.092 trillion U.S. dollars by the end ofAugust, increasing 10.8 billion dollars from a month earlier.

It is the first time the reserves have expanded seven months ina row since June 2014.

There had been concerns over capital flowing out of the Chinesemarket in the second half of 2016 Hydro Flask Clearance Sale , when the economy was facinglooming downward pressures and the Chinese yuan was in the middleof a losing streak against the U.S. dollar.

But the Chinese currency made a strong comeback recently, withthe central parity rate hitting 6.5419 against the U.S. dollarMonday, strengthening from 6.6744 a month earlier.

With sound economic fundamentals, wider openness and morestabilized market expectations, cross-border capital flows willcontinue to keep balanced and stable, SAFE said. Enditem

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