Chinese banks' foreign exchange surplus from bank-to-client transactions touched USD 37.8 billion in August,the country's foreign exchange watchdog said. In August,institutional and individual clients sold USD 144.4 billion in foreign currencies to banks while purchasing USD 106.5 billion,the State Administration of Foreign Exchange (SAFE) said in an online statement. From January to August,more foreign currencies were sold than purchased through Chinese banks,resulting in a USD 354.8 billion foreign exchange surplus during the period,the statement said. Foreign exchange surpluses,which make up part of China's foreign exchange reserves of over USD 3.5 trillion,along with current account surpluses and foreign direct investment inflows,do not include the banks' own foreign exchange transactions or inter-bank transactions,according to SAFE. Last year,foreign exchange surpluses created through Chinese banking transactions with domestic clients increased 51 per cent year-on-year to reach USD 397.7 billion,the SAFE data showed. Chinese banks' foreign exchange surplus from bank-to-client transactions reached USD 37.8 billion in August. In August,institutional and individual clients sold USD 144.4 billion in foreign currencies to banks while purchasing USD 106.5 billion,the State Administration of Foreign Exchange (SAFE) it said. Last year,foreign exchange surpluses created through Chinese banks' transactions with domestic clients increased 51 per cent year-on-year to reach USD 397.7 billion,Xinhua news agency reported.
