Chi­nese banks post sur­plus in forex deal­ings

The Pak Banker - - Company& -

BEI­JING: The sur­plus of Chi­nese banks' for­eign ex­change pur­chases over sales in client deal­ings in Novem­ber to­taled $45.3 bil­lion, the State Ad­min­is­tra­tion of For­eign Ex­change said yes­ter­day.

Chi­nese banks' Novem­ber for­eign ex­change sur­plus was the sec­ond-high­est monthly glut of this year, be­hind Oc­to­ber's US$57.6 bil­lion.

In Novem­ber, Chi­nese in­sti­tu­tional and in­di­vid­ual clients sold US$129.7 bil­lion of for­eign ex­change to banks while pur­chas­ing US$84.4 bil­lion, a state­ment on the SAFE web­site said. The fig­ure con­trib­uted partly to changes in China's for­eign ex­change re­serves but did not in­clude banks' own for­eign ex­change trans­ac­tions and in­ter­bank trans­ac­tions. -PB News

IS­LAM­ABAD: Mo­ham­mad Waseem Mukhtar (Di­rec­tor ABL), Khalid Sher­wani (CEO ABL) & Zia Ijaz (Group Chief) along with other ABL Ex­ec­u­tives at the inaugural cer­e­mony of the build­ing, at Sec­tor G-8. -App

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