Reuters logo
China Oct forex reserves fall more than expected to $3.121 trln, lowest since 2011
November 7, 2016 / 9:23 AM / a year ago

China Oct forex reserves fall more than expected to $3.121 trln, lowest since 2011

BEIJING, Nov 7 (Reuters) - China’s foreign exchange reserves fell for a fourth straight month in October and by more than expected to the lowest since March 2011, indicating further capital outflows despite recent signs the world’s second-largest economy is stabilising.

Reserves fell by $45.7 billion last month, compared with a near $19 billion drop in September, central bank data showed on Monday.

Economists polled by Reuters had expected reserves to dip to $3.14 trillion in October from $3.166 trillion at the end of September, a five-year low.

The central bank is widely believed to have sold U.S. dollars to support the yuan currency as it fell to six-year lows.

China’s gold reserves fell to $75.348 billion at the end of October from $78.169 billion at end-September, data published on the People’s Bank of China website showed. (Reporting by Beijing Monitoring Desk and Kevin Yao; Editing by Kim Coghill)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below