Singapore Expats

Chinese Foreign Reserves drop below $3Tn

Discuss about any latest news or current affairs in Singapore or globally. Please DO NOT copy and paste news articles from other sources without written permission.
Post Reply
User avatar
Posts: 2319
Joined: Tue, 10 Jun 2008 5:22 pm
Location: Pasir Ris

Chinese Foreign Reserves drop below $3Tn

Post by Barnsley » Tue, 07 Feb 2017 5:43 pm ... 6-year-low
China's foreign exchange reserves unexpectedly fell below the closely watched US$3 trillion (S$4.22 trillion) level in January for the first time in nearly six years, even as authorities tried to curb outflows by tightening capital controls.

Reserves fell by US$12.3 billion in January to US$2.998 trillion, compared with a drop of US$41 billion drop in December.

While the US$3 trillion mark is not seen as a firm "line in the sand" for Beijing, concerns are swirling in global financial markets over the speed at which the country is depleting its ammunition to defend the currency and staunch capital outflows.
They have burned through almost $1Tn in 2 yrs buying Yuan ... :o :o :o
Life is short, paddle harder!!

Post Reply
  • Similar Topics
    Last post

Return to “Latest News & Current Affairs”

Who is online

Users browsing this forum: No registered users and 4 guests