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Domestic banks' forex sales narrow in April

Chinese banks saw $23.7 billion of net foreign exchange sales in April, down from March, official data showed. Chinese lenders bought $115 billion worth of foreign currency last month and sold $138.7 billion, the State Administration of Foreign Exchange said in a statement on Monday. The amount has narrowed from the $36.4 billion seen in March and $33.9 billion in February, suggesting the pressure of capital outflow is easing, SAFE explained in a separate statement.