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PressTV-China forex reserves fall by $320bn

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China’s December forex reserves fall for sixth month

China's December forex reserves fall for sixth month*/

– China’s foreign exchange reserves fell to near six-year lows in December, but held just above the critical $3 trillion level, as authorities stepped in to support the weakening yuan ahead of US President-elect Donald Trump’s inauguration.China’s reserves shrank by $41 billion in December, slightly less than feared but the sixth straight month of declines, data showed on Saturday, after a week in which Beijing moved aggressively to punish those betting against the currency and make it harder for money to get out of the country.Analysts had forecast a drop of $51 billion.
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China forex reserves fall by $320 billion in 2016

China forex reserves fall by $320 billion in 2016*/

– A sign for foreign currency exchange is seen at a branch of the ICBC bank in Beijing, China, January 3, 2017.(Source: REUTERS/Thomas Peter) A sign for foreign currency exchange is seen at a branch of the ICBC bank in Beijing, China, January 3, 2017.(Source: REUTERS/Thomas Peter)China’s foreign exchange reserves fell by USD 320 billion last year, Beijing announced Saturday, as authorities sought to support the yuan against a soaring dollar which is encouraging capital outflows.
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PressTV-China forex reserves fall by $320bn

PressTV-China forex reserves fall by $320bn*/

– China’s foreign exchange reserves dropped by $320 billion in 2016 with Chinese authorities seeking to support the yuan against a soaring dollar.According to the State Administration of Foreign Exchange (SAFE), China’s foreign exchange reserves fell to $3.011 trillion at the end of December, the lowest level in nearly 6 years.World’s largest forex reserves plummeted by $41 billion dollars in December from the previous month, SAFE announced on Saturday.
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