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China's funds for foreign exchange drop unexpectedly
Source: Xinhua |
September 15, 2014, Monday
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Online Edition
Online Edition
China's funds outstanding for foreign exchange fell unexpectedly in August, underscoring short-term pressure of capital outflow, according to data released Monday by the People's Bank of China (PBOC).
Funds for foreign exchange stood at 29.46 trillion yuan (US$4.79 trillion) by the end of August, down 31.15 billion yuan from a month ago, the PBOC data showed.
The decline in August reversed a growth in funds for foreign exchange seen in July, according to the PBOC, China's central bank.
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