The growth of the surplus of foreign currency Chinese banks generated by client transactions accelerated in March, allowing China to rapidly increase its foreign reserves, said Wednesday the State Administration of Foreign Exchange (SAFE).
During the month of March, more foreign currencies were sold qu'achetées, and the yuan (Chinese currency) continued to rise, which generated a surplus of foreign exchange of 40.9 billion dollars, according the statement posted on the website administration.
The surplus for the month of March is more important than the month of February amounted to 24.9 billion dollars less than the month of January reached 68.4 billion dollars.
Institutional clients and individual Chinese have exchanged 134.4 billion dollars in foreign currency during the month of March, and conducted exchange transactions totaling $ 94.5 billion, according to the administration.
The figures of March bring the surplus of foreign currency Chinese banks 134.2 billion for the first quarter of 2011.
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