SUBSCRIBERS
China sells record net 723.8b yuan of forex in August
Published Mon, Sep 14, 2015 · 09:50 PM
Shanghai
CHINA's central bank and commercial banks sold a net 723.8 billion yuan (S$160 billion) of foreign exchange in August, by far the largest on record, highlighting how capital outflows intensified in the wake of the yuan's devaluation last month.
The previous largest outflow, in July, totalled 249.1 billion yuan. The figures are based on Reuters calculations using central bank data, the latest of which was released on Monday.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’