China Forex Reserves  Down $19b
World Economy

China Forex Reserves Down $19b

China’s foreign exchange reserves fell for a third straight month in September and by slightly more than markets had expected, suggesting fresh capital outflows from the world’s second-largest economy, Reuters reported. Forex reserves fell nearly $19 billion to $3.166 trillion, from $3.185 trillion in August, central bank data showed on Friday. Economists polled by Reuters had expected reserves to ease to $3.18 trillion, after dropping to the lowest since 2011 in August after the central bank intervened to support the yuan currency as it weakened to near six-year lows. China’s reserves, the largest in the world, fell by a record $513 billion last year after Beijing devalued the yuan, sparking a flood of capital outflows that threatened to destabilize the economy and alarmed global financial markets. But declines had slowed sharply in the first half of this year as authorities tightened capital controls and cracked down on forex trading which they suspected to be speculation. Tentative signs of stabilization in the economy and investment inflows were also believed to be offsetting outflow pressures.


Short URL : https://goo.gl/attcoq
  1. https://goo.gl/mpPYEe
  • https://goo.gl/4up2Wm
  • https://goo.gl/DQuAEY
  • https://goo.gl/VchCE4
  • https://goo.gl/WECPc9

You can also read ...

Even though the US tariffs on their own may have a limited impact, global economic growth will slow should US trigger a trade war with  China or the European Union.
The volume of global trade grew faster than the world economy...
OECD Finds No Consensus on Interim E-Commerce Taxes
The Organization for Economic Cooperation and Development’s...
S. Arabia Among World’s Worst Performing Property Markets
Saudi Arabia’s real estate market continued to be one of the...
Greece Looking Economically Vibrant on Road to Recovery
It’s nearly springtime in Athens: street trees are heavy with...
Since China’s entry into the World Trade Organization in 2001, it has become the most formidable  economic competitor the United States had even seen.
The US national debt exceeded $21 trillion for the first time...
Merkel Says Trying to Boost Domestic Demand
Germany is trying to stimulate domestic demand to offset...
Gaza growth fell from 8% in 2016  to a mere 0.5% in 2017.
Gaza has seen conditions steadily deteriorate over the last...
ECB wants to keep headline inflation below,  but close to 2% year-on-year.
Eurozone consumer prices grew less than expected in February...

Add new comment

Read our comment policy before posting your viewpoints