Press "Enter" to skip to content

China banks’ net foreign exchange sales narrow sharply in July despite weakening yuan

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

Net foreign exchanges sales by Chinese commercial banks narrowed sharply in July, signalling easing capital outflows despite acute depreciation pressure on the Chinese yuan.

Chinese banks sold a net of $6.1 billion of foreign exchange in July, 68 per cent lower than a month earlier, $3.3 billion down from the same period last year, shows latest data released by the State Administration of Foreign Exchanges. In particular, banks sold $2.1 billion foreign exchange on behalf of clients . . .

To continue reading, please subscribe. You will get

 

  • IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
  • THE WIRE  - up-to-the-minute updates of market-moving news and views. We want you to be the first to know it when something important happens.
  • DETAILS - We bring you details that you won't find elsewhere. General information is everywhere, but information with details and relevant to your investment is rare. 

 

FREE TRIAL cancel anytime

Grab the Special Offer ! Get Yuan Talks full service at $0.6 a day!

 

We highly value independence. We are solely funded by subscriptions from intelligent readers like you. 

Already have an account? Sign In

Top