China's commercial banks reported a net forex settlement surplus of 84.3 billion U.S. dollars in the first seven months of the year, the country's forex regulator said Monday.

 

Forex purchases by banks stood at 1.55 trillion dollars, while sales reached about 1.46 trillion dollars, data from the State Administration of Foreign Exchange showed.

 

Supply and demand in China's foreign exchange market were generally balanced in July, said Wang Chunying, deputy director and spokesperson of the administration.

 

She said the continued surplus in the current account played an important role in maintaining the balance between the supply and demand of foreign exchange in China.

 

In the first half of 2022, China's current account registered a surplus of 169.1 billion dollars, up 45 percent year on year, preliminary data showed.