BANK of China (BOC) said Tuesday it held US$49.56 billion in foreign exchange savings at the end of August, up US$3.68 billion from the end of last year.

　　The bank, the country’s biggest foreign exchange bank, said in a statement it held some 65 percent of domestic hard currency savings at the end of August. The share was 0.89 of a percentage point higher than the end of last year.

　　The bank also had domestic currency deposits of 777.46 billion yuan (US$93.92 billion) at the end of August, up 113.05 billion yuan from the end of last year, it said.

　　“Outstanding renminbi savings increased while the traditional business advantages in foreign exchange deposits have been consolidated,” the statement said.

　　The bank was trying to lure customers with on-line banking, foreign exchange dealing facilities and international debit cards, it said.

　　The Bank of China’s listed arm, Bank of China Hong Kong, is the territory’s second biggest in assets after HSBC.

　　Analysts say most Chinese banks have to invest excess foreign exchange in U.S. treasury bonds and other overseas instruments to help ease interest pressure from soaring savings.(SD-Agencies)