Forex assets decline to lowest in over 4 years

Advanced Search

The story appears on

Page A9

March 8, 2016

GET this page in PDF

Free for subscribers

View shopping cart

Forex assets decline to lowest in over 4 years

Source: Xinhua | March 8, 2016, Tuesday |

Print Edition

CHINA’S foreign exchange reserves fell by US$28.57 billion to US$3.2 trillion in February, the lowest since December 2011, central bank data showed yesterday.

The decline was smaller than a drop of US$99.5 billion in January, according to data published by the People’s Bank of China on its website.

The country’s foreign exchange reserves have fallen four months in a row as the central bank dumps dollars to ease depreciation pressure on the yuan and prevent an increase in capital outflows.

“There is no basis for persistent yuan depreciation,” PBOC Governor Zhou Xiaochuan said in late February, adding that the decline of China’s foreign reserves is only a period of overshooting.

China’s gold reserves amounted to US$71.01 billion at the end of February, an increase from January’s US$63.57 billion.

China’s International Monetary Fund reserve position amounted to US$10.73 billion, an increase from US$3.76 billion a month earlier. The country held US$10.28 billion of IMF Special Drawing Rights at the end of last month, compared with US$10.27 billion at the end of January.

Business Finance

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Forex assets decline to lowest in over 4 years

Email this to your friend