BEIJING — China's commercial banks reported a net forex settlement surplus of $84.3 billion in the first seven months of the year, the country's forex regulator said on Aug 15.

Forex purchases by banks stood at $1.55 trillion, while sales reached about $1.46 trillion, data from the State Administration of Foreign Exchange showed.

Supply and demand in China's foreign exchange market were generally balanced in July, said Wang Chunying, deputy director and spokesperson of the administration.

She said the continued surplus in the current account played an important role in maintaining the balance between the supply and demand of foreign exchange in China.

In the first half of 2022, China's current account registered a surplus of $169.1 billion, up 45 percent year-on-year, preliminary data showed.