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Chinese banks' forex settlement deficit expands in December

Xinhua, January 19, 2017 Adjust font size:

China saw the deficit in its foreign exchange settlement expanded in December, official data showed on Thursday.

Chinese lenders bought 128 billion U.S. dollars worth of foreign currency and sold 174.3 billion U.S. dollars, resulting in a net sale of 320.3 billion yuan (46.3 billion U.S. dollars) in December, up from the November deficit of 33.4 billion U. S. dollars, according to the State Administration of Foreign Exchange (SAFE).

Chinese banks' forex settlement deficit hit 337.7 billion U.S. dollars in 2016, data showed. Endi