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The Basic Balance Of Supply And Demand In The Domestic Foreign Exchange Market

- Dec 21, 2018 -

China Daily, Dec. 21 (Diao Yunjiao) Statistics from the State Administration of Foreign Exchange show that in November 2018, banks settled 1070.9 billion yuan, sold 1195 billion yuan, and had a balance of 124.1 billion yuan. From January to November, the banks accumulated 11375.4 billion yuan in foreign exchange, 11716.6 billion yuan in foreign exchange sales, and a total deficit of 341.2 billion yuan in foreign exchange sales.

Wang Chunying, spokesman for the State Administration of Foreign Exchange, said that supply and demand in the domestic foreign exchange market had basically balanced in November. At the end of November 2018, China's foreign exchange reserve balance was 306.17 billion US dollars, up 8.6 billion US dollars from the end of October.

In addition, in recent years, the international environment is complex and external pressures persist, but our foreign exchange market generally presents a two-way fluctuation, basically stable pattern, and there is no trend change. On the one hand, it reflects the fundamental role of the smooth operation of China's economy. On the other hand, it also shows that the participants in the foreign exchange market are more rational, and their ability to adapt to changes in the external environment is constantly improving.