Commercial banks’ foreign-exchange buying increased sharply from May, a move the FX regulator data framed as a sign that capital flows are accelerating.
China’s commercial banks net bought $56.6 billion in foreign exchange in June, up sharply from $35.8 billion in May, based on data cited from the country’s FX regulator (foreign-exchange regulator). The increase points to faster-moving capital flows, a closely watched signal for currency demand, cross-border settlement and broader financial conditions.