China’s Commercial Banks Bought $14.8 Billion of Forex in April

China’s commercial banks purchased a net $14.8 billion worth of foreign exchange in April, down from a net purchase of $18.6 billion in March, official data showed Friday.

The State Administration of Foreign Exchange said Chinese banks purchased a net $53.9 billion worth of forex in the first four months of the year.

Wang Chunying, a spokeswoman with SAFE, said in a statement that demand and supply of the forex market are largely balanced, and the scale of capital inflow seen in major channels such as trade and investment is generally stable.
Source: Dow Jones

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