Chinese banks log forex settlement surplus in May

BEIJING - China's banks saw a net forex settlement surplus of $3.3 billion in May, the country's forex regulator said on Thursday.

Forex purchases by banks totaled $199.3 billion last month, and sales reached $196 billion, data from the State Administration of Foreign Exchange shows.

During the first five months, forex purchases by banks came in at $932.2 billion, and sales totaled $938.7 billion.