Plus   Neg

China's Foreign Exchange Reserves Continue To Rise

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

comments powered by Disqus
Follow RTT