Yuan funds for forex drop in December
THE central bank’s yuan funds outstanding for foreign exchange declined again in December as capital outflow continued.
The funds declined 317.8 billion yuan (US$46.1 billion) in December month on month to 21.94 trillion yuan, data from the People’s Bank of China showed Monday. December was the 14th consecutive month of decline.
As the Chinese currency is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by China’s trade surplus and foreign investment in the country, adding funds to the money market.
Such funds are an important indicator of cross-border foreign capital flow and domestic yuan liquidity. China’s forex reserves fell for the sixth straight month in December by US$41.1 billion to US$3.01 trillion, as the PBOC used them to balance the forex market and currencies weakened against the US dollar. Despite recent drops, China is still home to the world’s largest forex reserve.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.