Chinese banks post surplus in forex dealings
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