China's foreign exchange reserves fell by most since November 2016 to hit lowest in 17 months

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China’s foreign exchange reserves dropped by the most since November 2016 to their lowest level in 17 months as the coronavirus pandemic caused a plunge in global asset prices and a rise in the US dollar exchange rate.

China’s reserves, the world’s largest, fell by $46.085 billion in March to $3.061 trillion, shows data released by the People's Bank of China (PBOC) on Tuesday, making it the biggest fall since November 2016. That was worse than the expected drop of $6.718 billion to $3.100 trillion, according to a Reuters . . .

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