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Chinese banks’ forex settlement deficit expands in December

Updated: Jan 19,2017 2:31 PM     Xinhua

China saw the deficit in its foreign exchange settlement expanded in December, official data showed on Jan 19.

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

Chinese banks’ forex settlement deficit hit $337.7 billion in 2016, data showed.