China banks buy less forex in Feb

BEIJING, March 29 (Reuters) - Chinese banks bought a net
$4.4 billion in foreign exchange from their customers in
over-the-counter transactions in February, down from $19.4
billion in January, the State Administration of Foreign Exchange
(SAFE) said on Wednesday. 
    In a rare sign of capital outflow, Chinese banks reported
net sales of foreign currencies in the last two months of 2011. 
    Banks' over-the-counter foreign exchange transactions have
contributed to China's huge reserves expansion in recent years
as exporters and investors sold dollars to banks which, in turn,
sell most of them to the central bank in the interbank market. 
    Following is monthly data on Chinese commercial banks' net
foreign exchange purchases (in $bln):
 Feb   Jan   Dec  Nov  Oct   Sep  Aug  Jul  Jun  May  Apr  Mar
 4.4  19.4 -15.3 -0.8  3.2  26.0 37.8 43.2 43.0 51.9 44.7 40.9