xi's moments
Home | Finance

China's yuan funds for foreign exchange dip in March

Xinhua | Updated: 2017-04-15 14:37

BEIJING — The central bank's yuan outstanding for foreign exchange continued to drop in March, representing the 17th straight month of decline.

The funds declined 54.7 billion yuan ($8 billion) in March from February to 21.6 trillion yuan, data from the People's Bank of China showed Friday.

The decrease was less than the 58.1 billion yuan registered in February.

As the Chinese currency is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by China's trade surplus and foreign investment in the country, adding funds to the money market.

China's forex reserves climbed to $3.009 trillion by the end of March from 3.005 trillion dollars a month earlier, still the largest foreign exchange reserve stockpile in the world.

Global Edition
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349