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Banks' net forex sales narrow in October

Chinese banks continued to see net foreign exchange sales in October, but the volume narrowed significantly from that of September in a sign of easing capital outflows. Chinese lenders bought $128.3 billion worth of foreign currency in October and sold $148.4 billion, resulting in a net sale of $20.1 billion, the State Administration of Foreign Exchange said in a statement. The deficit marked a significant drop from September's $109.2 billion.