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)