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China continues to see forex settlement deficit

Xinhua, October 22, 2015 Adjust font size:

China continued to see a foreign exchange (forex) settlement deficit in September, indicating forex had flowed out of the country at the retail level.

Chinese banks sold 232.1 billion U.S. dollars' worth of foreign currencies to individuals and institutions, and bought 122.9 billion dollars from them, resulting in a net sale of 109.2 billion last month, the State Administration of Foreign Exchange said on Thursday.

The forex settlement deficit came in at 301.5 billion dollars in the first three quarters of 2015. Endit