Published On: Fri, Mar 10th, 2017

China FX reserves rebound for first time in eight months

Chinese garden

Renminbi call: the consensus among forecasters contributing to FX Week is for USD/CNY to trade at 7.17 in 12 months

China’s foreign exchange reserves rebounded above the psychological $ 3 trillion threshold in February – the first rise in eight months – as tighter capital controls are paying off in limiting capital outflows from the country. Figures published today by the People’s Bank of China (PBoC) show FX reserves rose by $ 6.9 billion to $ 3.01 trillion at the end of February, against a drop of $ 25 billion expected by analysts. Last month’s numbers signal the first increase in the stockpile of reserves


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