Chinese banks' sales of foreign exchange stability at 12.8 billion dollars

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Announced foreign exchange control system in China, on Thursday, said that Chinese commercial banks net sales of foreign exchange reserves amounted to $ 12.8 billion in June, compared with net sales of $ 12.5 billion in May. The State Administration of Foreign Exchange, told a news conference that the net foreign exchange sales in the first half of this year amounted to 173.8 billion dollars. According to the People's Bank of China (the central bank) last week that sales of foreign exchange in June was the highest in three months as it seeks to protect the yuan from the market volatility caused by Britain's decision to exit from the European Union. A spokeswoman for the State Administration of Foreign Exchange and Wang Chung on Thursday that the money leave China's capital flows recede. Data showed earlier that China's central bank sold foreign net cash value of 97.7 billion yuan in June, up from 53.7 billion yuan in the previous month. China's currency fell on Monday from 6.7 yuan to the dollar for the first time since late 2010 and fell three percent against the greenback since the beginning of the year, which renewed market fears of outflows of capital. The State Administration of Foreign Exchange on Thursday that China's current account surplus equivalent to 1.6 percent of GDP in the first quarter of this Am.anthy 29 / A 43