BEIJING — China's banks saw a net forex settlement surplus of $180 billion in the first three quarters, the country's forex regulator said on Oct 22.

Forex purchases by banks stood at around $1.86 trillion, while sales reached nearly $1.68 trillion, data from the State Administration of Foreign Exchange (SAFE) showed.

The surplus in forex settlement indicated that China's stable recovery has underpinned the stable operation of the forex market, said Wang Chunying, spokesperson with the SAFE.