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China Logs Forex Settlement of $257 Billion in April

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Chinese banks settled $257.3 billion and sold $217.2 billion in foreign exchange in April, according to a Monday news release with the State Administration of Foreign Exchange.

Banks' forex receipts on behalf of clients totaled $832 billion, while forex payments reached $770 billion.

From January to April, banks cumulatively settled $1.024 trillion and sold $844.9 billion in forex. Banks' cumulative forex receipts on behalf of clients reached $3.038 trillion, and cumulative foreign exchange payments totaled $2.890 trillion.

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