Diabytes
China forex News
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China`s foreign exchange reserves unexpectedly fell below the closely watched $3 trillion level in January for the first time in nearly six years, even as authorities tried to curb outflows by tightening capital controls.
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China`s mountain of foreign exchange reserves dropped around $19 billion in September to a five-year low, government data showed, with the central bank spending heavily to defend its currency against capital outflows.
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China's foreign exchange reserves, the highest in the world, dropped to USD 3.201 trillion at the end of last month, down from June's USD 3.205 trillion amid concerns over capital outflows.
A large portion of China`s reserves are held in U.S. Treasuries. Last week, traders suspected China of selling Treasuries.
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