China August forex reserves fall to US$3.19 trillion, lowest since 2011
[BEIJING] China's foreign exchange reserves fell to US$3.19 trillion in August, central bank data showed on Wednesday, in line with market expectations and the lowest level since December 2011.
Reserves fell by US$15.89 billion in August, the biggest drop since May.
Economists polled by Reuters had predicted reserves would fall to US$3.19 trillion from US$3.20 trillion at the end of July.
China's reserves, the largest in the world, fell by a record US$513 billion last year after Beijing devalued the yuan currency, sparking a flood of capital outflows that threatened to destabilise the world's second-largest economy and alarmed global markets.
China's gold reserves fell to US$77.18 billion at the end of August, down from US$78.89 billion at end-July, data published on the People's Bank of China website showed.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations