The story appears on

Page A2

October 20, 2017

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Economy

Yuan forex funds snap decline

THE central bank’s yuan outstanding for foreign exchange rose in September, snapping a 22-month decline, according to figures released yesterday.

The funds increased by 850 million yuan (US$129 million) from August to 21.51 trillion yuan, the People’s Bank of China said.

An increase usually signals eased capital flight pressure, while a decrease can indicate higher pressure.

Analysts attributed September’s increase partly to a stronger yuan. The central parity rate of the yuan once strengthened to 6.4997 against the US dollar last month, breaking the psychologically important 6.5 barrier for the first time since May 2016.

The country’s forex reserves rose for the eighth month in a row in September as pressure from capital outflow eased, central bank data showed last week. Forex reserves totaled US$3.1085 trillion at the end of September, increasing US$16.98 billion from a month earlier.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend