周一（11月17日）纽约尾盘，美元兑日元涨0.43%，报155.21日元，日内交投区间为154.42-155.30日 元。欧元兑日元涨0.14%，报179.86日元，北京时间00:45曾涨至180.02日元创历史新高；英镑兑日元涨 0.27%，报204.123日元。欧元兑美元跌0.29%，英镑兑美元跌0.16%，美元兑瑞郎涨0.30%。商品货币对 中，澳元兑美元跌0.83%，纽元兑美元跌0.56%，美元兑加元涨0.23%——22:55以来从1.4030显著拉升接 近1.4060。瑞典克朗兑美元跌0.32%，挪威克朗兑美元跌0.21%，丹麦克朗兑美元跌0.29%。波兰兹罗提 兑美元跌0.44%，匈牙利福林兑美元跌0.35%。 ...

Core Viewpoint - The foreign exchange market in China has maintained a stable operation despite increased volatility in the international financial market and a rising US dollar index [1]. Group 1: Foreign Exchange Market Performance - Since October, the supply and demand in the foreign exchange market have remained basically balanced, with a surplus of $17.7 billion in bank foreign exchange transactions, showing a month-on-month narrowing of the surplus [1]. - The exchange rates for both currency purchases and sales have remained consistent with the average levels from the previous nine months [1]. Group 2: Cross-Border Capital Flow - Cross-border capital flows have remained stable, with a slight net outflow from non-bank sectors in September due to the National Day and Mid-Autumn Festival holidays, followed by an increase in net inflows in October [1]. - The average monthly surplus for cross-border receipts and payments over the two months is $24 billion [1].

2025年10月，银行代客涉外收入44207亿元人民币，对外付款40579亿元人民币。2025年1—10月，银行 代客累计涉外收入464836亿元人民币，累计对外付款452607亿元人民币。按美元计值，2025年10月，银 行代客涉外收入6231亿美元，对外付款5719亿美元。2025年1—10月，银行代客累计涉外收入64936亿美 元，累计对外付款63227亿美元。 二是跨境资金流动保持稳定。受国庆中秋假期因素等影响，9月企业、个人等非银行部门跨境资金小幅 净流出，10月跨境资金净流入增多，综合两个月情况看跨境收支月均顺差为240亿美元。其中，货物贸 易资金净流入保持高位；居民出境旅行、外资企业分红派息等跨境支出季节性回落，服务贸易、投资收 益资金净流出环比收窄。总的来看，我国外汇市场预期平稳，供求基本平衡，保持较强韧性和活力。 国家外汇管理局副局长、新闻发言人李斌表示，10月以来，国际金融市场波动性有所上升，美元指数总 体上行。我国外汇市场继续保持稳健运行态势。 期货日报网讯（记者 肖佳煊）11月17日，国家外汇管理局发布的统计数据显示，2025年10月，银行结 汇15194亿元人民币，售汇13940亿元 ...

Core Insights - The foreign exchange market in China is maintaining a stable operation despite increased volatility in international financial markets and a rising US dollar index [1][2][3] Group 1: Foreign Exchange Statistics - In October 2025, banks settled foreign exchange transactions amounting to 15,194 billion RMB and sold 13,940 billion RMB [1] - From January to October 2025, banks cumulatively settled 147,941 billion RMB and sold 142,201 billion RMB [1] - In USD terms, banks settled 2,142 million USD and sold 1,965 million USD in October 2025, with cumulative settlements of 20,675 million USD and sales of 19,866 million USD from January to October 2025 [1] Group 2: Cross-Border Capital Flows - The foreign exchange market supply and demand are fundamentally balanced, with a surplus of 177 million USD in bank settlement and sales in October, indicating a more balanced situation compared to previous months [2] - Cross-border capital flows remain stable, with a slight net outflow in September due to holiday factors, followed by increased net inflows in October [2] - The average monthly surplus for cross-border receipts and payments over the two months is 240 million USD, with high net inflows from trade and a seasonal decline in cross-border expenditures [2] Group 3: Market Outlook - Overall, the foreign exchange market in China is expected to remain stable, with a balanced supply and demand, demonstrating strong resilience and vitality [3]

Core Viewpoint - The foreign exchange market in China remains stable despite increased volatility in international financial markets, with a balanced supply and demand situation observed in October 2025 [1] Group 1: Foreign Exchange Market Performance - In October, the bank's foreign exchange settlement and sales surplus was $17.7 billion, showing a narrowing trend compared to previous months, indicating a more balanced settlement and sales activity [1] - The settlement and sales rates for enterprises and other entities were consistent with the average levels from the first nine months of the year [1] Group 2: Cross-Border Capital Flows - Cross-border capital flows remained stable, with a slight net outflow from non-bank sectors in September due to holiday factors, followed by an increase in net inflows in October [1] - The average monthly surplus for cross-border receipts and payments over the two months was $24 billion, supported by high levels of net inflow from goods trade [1] - Seasonal declines were noted in cross-border expenditures related to resident travel abroad and foreign enterprise dividends, while the net outflow from service trade and investment income narrowed compared to previous months [1]

Core Viewpoint - The international financial market has seen increased volatility since October, but China's foreign exchange market remains stable with a balanced supply and demand [2] Group 1: Cross-Border Capital Flow - In September, there was a slight net outflow of cross-border funds from non-bank sectors such as enterprises and individuals due to the National Day and Mid-Autumn Festival holidays [2] - In October, there has been an increase in net inflows of cross-border funds, leading to an average monthly surplus of $24 billion over the two months [2] - The net inflow of funds from goods trade remains high, while seasonal declines in cross-border expenditures such as outbound travel and foreign enterprise dividends have been observed [2] Group 2: Market Stability - The foreign exchange market in China continues to operate steadily despite the fluctuations in the international financial market [2] - The overall cross-border capital flow remains stable, indicating resilience in the market [2]

答：10月以来，国际金融市场波动性有所上升，美元指数总体上行。我国外汇市场继续保持稳健运行态 势。一是外汇市场供求基本平衡。10月，银行结售汇顺差177亿美元，环比有所收窄，结售汇更加平 衡。企业等主体根据实际需求有序开展结汇和购汇交易，结汇率和售汇率与前9个月月均水平基本相 当。二是跨境资金流动保持稳定。受国庆中秋假期因素等影响，9月企业、个人等非银行部门跨境资金 小幅净流出，10月跨境资金净流入增多，综合两个月情况看跨境收支月均顺差为240亿美元。其中，货 物贸易资金净流入保持高位；居民出境旅行、外资企业分红派息等跨境支出季节性回落，服务贸易、投 资收益资金净流出环比收窄。总的来看，我国外汇市场预期平稳，供求基本平衡，保持较强韧性和活 力。 人民财讯11月17日电，日前，国家外汇管理局公布了2025年10月银行结售汇和银行代客涉外收付款数 据。国家外汇管理局副局长、新闻发言人李斌就2025年10月外汇市场形势回答了记者提问。 （原标题：国家外汇管理局：2025年10月，我国外汇市场继续保持稳健运行态势） 问：10月以来我国外汇市场运行状况如何？有什么特点和变化？ ...

智通财经APP获悉，11月17日，国家外汇管理局副局长、新闻发言人李斌就2025年10月外汇市场形势答 记者问。李斌提到，一是外汇市场供求基本平衡。10月，银行结售汇顺差177亿美元，环比有所收窄， 结售汇更加平衡。企业等主体根据实际需求有序开展结汇和购汇交易，结汇率和售汇率与前9个月月均 水平基本相当。二是跨境资金流动保持稳定。总的来看，我国外汇市场预期平稳，供求基本平衡，保持 较强韧性和活力。 原文如下： 答：10月以来，国际金融市场波动性有所上升，美元指数总体上行。我国外汇市场继续保持稳健运行态 势。一是外汇市场供求基本平衡。10月，银行结售汇顺差177亿美元，环比有所收窄，结售汇更加平 衡。企业等主体根据实际需求有序开展结汇和购汇交易，结汇率和售汇率与前9个月月均水平基本相 当。二是跨境资金流动保持稳定。受国庆中秋假期因素等影响，9月企业、个人等非银行部门跨境资金 小幅净流出，10月跨境资金净流入增多，综合两个月情况看跨境收支月均顺差为240亿美元。其中，货 物贸易资金净流入保持高位;居民出境旅行、外资企业分红派息等跨境支出季节性回落，服务贸易、投 资收益资金净流出环比收窄。总的来看，我国外汇市场预期 ...

Core Viewpoint - The article discusses the fluctuations in various currency pairs, highlighting the performance of the US dollar against the Japanese yen and other currencies on November 10th, with notable movements in commodity currencies like the Australian and New Zealand dollars [1] Currency Performance Summary - The US dollar rose by 0.39% against the Japanese yen, reaching 154.02 yen, with a trading range of 153.36 to 154.25 yen throughout the day [1] - The euro increased by 0.36% against the Japanese yen, while the British pound rose by 0.56% against the same currency [1] - The euro dipped by 0.04% against the US dollar, whereas the British pound appreciated by 0.15% against the US dollar [1] - The Australian dollar gained 0.71% against the US dollar, trading at 0.6538, with a notable V-shaped movement observed [1] - The New Zealand dollar increased by 0.43% against the US dollar, while the Canadian dollar fell by 0.19% against the US dollar [1] - The Swedish krona rose by 0.23% against the US dollar, and the Norwegian krona increased by 0.43%, while the Danish krone slightly decreased by 0.03% [1] - The Polish zloty appreciated by 0.17% against the US dollar, and the Hungarian forint rose by 0.11% against the US dollar [1]

Core Viewpoint - The cross-border payment and settlement scale in China has significantly increased during the "14th Five-Year Plan" period, with a projected total of $14 trillion in 2024, marking a 64% growth compared to 2020, and a 10.5% year-on-year increase in the first three quarters of this year [3][5][6]. Group 1: Cross-Border Trade - The scale of cross-border trade has expanded, with the average annual growth rate during the "14th Five-Year Plan" period being 8 percentage points higher than that of the "13th Five-Year Plan" [3]. - The total value of imports and exports in Gansu Province is expected to exceed 60 billion yuan for the first time in nearly a decade, with an average annual growth rate of 13.9% since 2021 [5]. - The average annual scale of service trade imports and exports has exceeded $860 billion, representing a 26% increase compared to the "13th Five-Year Plan" period [6]. Group 2: Financial Stability - As of June 2025, China's foreign financial assets exceeded $11 trillion, while foreign liabilities surpassed $7.2 trillion, resulting in a net foreign asset of $3.8 trillion, ranking third globally [7]. - The foreign exchange market has been enhanced with a dual management framework, which has effectively responded to external shocks and maintained a stable environment for cross-border payments [7]. Group 3: Service Trade Facilitation - The efficiency of cross-border fund settlement has significantly improved due to the implementation of facilitation policies, allowing companies to complete transactions much faster than before [8][9]. - The introduction of direct settlement for cross-border e-commerce transactions has streamlined processes, reducing the time required for fund settlement to one working day [10]. Group 4: Open Market Developments - The issuance of Panda bonds by foreign entities in China's interbank bond market has continued to grow, with cumulative issuance surpassing 1 trillion yuan [11]. - Reforms in the Qualified Foreign Institutional Investor (QFII) and Renminbi Qualified Foreign Institutional Investor (RQFII) systems have simplified approval processes and enhanced cross-border capital management [12]. - The overall scale of foreign investment in domestic securities has increased by 6% since the beginning of the "14th Five-Year Plan" [13].