Chinese banks record forex settlement deficit in July

BEIJING, Aug. 15 (Xinhua) -- China's commercial banks saw a net forex settlement deficit of 106.2 billion yuan (about 14.8 billion U.S. dollars) in July, data showed Tuesday.

Forex purchases by banks stood at about 1.2 trillion yuan, while sales reached 1.31 trillion yuan in the month, according to the State Administration of Foreign Exchange (SAFE).