The monthly change in China’s forex reserves is read as a measure of the People’s Bank of China’s purchases or sales of reserve assets held in foreign currencies. Photo: Reuters
China’s forex reserves growth in November exceeds expectations as US dollar weakens
- Analysts are awaiting data to confirm whether there was currency intervention by the central bank that contributed to its foreign reserves
- China has kept its reserves largely stable in recent years, between US$3 trillion and US$3.2 trillion, signalling it is letting market demand and supply forces determine yuan’s value
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Central banks
The monthly change in China’s forex reserves is read as a measure of the People’s Bank of China’s purchases or sales of reserve assets held in foreign currencies. Photo: Reuters
