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SAFE: Mainland Mar Bank FX Settlement Surplus USD16 billion, Down 63% MoM
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The State Administration of Foreign Exchange (SAFE) announced data on banks foreign exchange settlement and sales for March. Calculated in USD terms, banks settled USD273.6 billion of foreign exchange and sold USD257.6 billion in March. In 1Q26, banks recorded cumulative foreign exchange settlements of USD766.4 billion and cumulative foreign exchange sales of USD627.7 billion. Li Bin, Deputy Administrator and spokesperson of SAFE, said in response to the foreign exchange market situation that since March, geopolitical conflicts have triggered volatility in international financial markets. In the face of external shocks, the mainland foreign exchange market has generally operated in a stable manner. Foreign exchange market turnover reached USD4.4 trillion in March, up 16% YoY. Total cross-border receipts and payments of non-bank sectors, including corporates and individuals, amounted to USD1.7 trillion, up 26% YoY. Data showed that banks recorded a foreign exchange settlement and sales surplus of USD16 billion in March, down 63% MoM, with foreign exchange supply and demand becoming more balanced. Enterprises and other entities demonstrated rational trading behavior of settling foreign exchange at higher rates and purchasing foreign exchange at lower rates in response to market changes, with both the settlement rate and the purchase rate rising steadily MoM. Meanwhile, non-bank sectors such as enterprises and individuals recorded net cross-border capital outflows of USD32.1 billion. Affected by changes in international markets, cross-border capital flows under securities investment fluctuated but have gradually stabilized since April. Li Bin noted that since the beginning of this year, the mainland economy has made a solid start, with steady development in foreign-related economic activities. Overall vitality in the foreign exchange market has strengthened, and trading has remained stable and orderly. In 1Q26, the scale of cross-border receipts and payments increased by 16% YoY, domestic foreign exchange supply and demand remained broadly balanced, and market expectations stayed stable. (ta/j) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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