Chinese banks report forex settlement deficit in November

BEIJING, Dec. 15 (Xinhua) -- Chinese banks reported a net forex settlement deficit of 176.1 billion yuan (about 24.8 billion U.S. dollars) in November, official data showed on Friday.

In yuan terms, forex purchases by banks totaled 1.24 trillion yuan, and sales were approximately 1.42 trillion yuan, according to data from the State Administration of Foreign Exchange.

During the first 11 months, forex purchases by banks came in at 14.1 trillion yuan, and sales totaled approximately 14.59 trillion yuan.