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China's Foreign Exchange Reserves Continue To Rise
Posted On 07 Dec 2017
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China’s foreign exchange reserves continued to increase in November, data from the People’s Bank of China showed Thursday.
Forex increased by $10 billion to $3.12 trillion in November. This was the tenth consecutive rise in reserves. The reserves for November came in line with expectations.
Foreign exchange reserves suggest that capital outflows continued to be a non-issue last month, Julian Evans-Pritchard, an economist at Capital Economics, said.
This has allowed the PBoC to step back from FX intervention which, over the medium term, should be supportive of renminbi appreciation, the economist said.
The material has been provided by InstaForex Company – www.instaforex.com
