China’s foreign exchange deposits hit a historic high of US$1.01 trillion at end of May, up 35.7 per cent from a year earlier, after having surpassed US$1 trillion for the first time in April, according to data from the People’s Bank of China (PBOC). Photo: AFP China’s foreign exchange deposits hit a historic high of US$1.01 trillion at end of May, up 35.7 per cent from a year earlier, after having surpassed US$1 trillion for the first time in April, according to data from the People’s Bank of China (PBOC). Photo: AFP
China’s foreign exchange deposits hit a historic high of US$1.01 trillion at end of May, up 35.7 per cent from a year earlier, after having surpassed US$1 trillion for the first time in April, according to data from the People’s Bank of China (PBOC). Photo: AFP
Yuan

As China’s foreign currency deposits pass US$1 trillion, banks face unwanted headache, yuan pressure

  • China’s foreign exchange deposits hit US$1.01 trillion at end of May, up 35.7 per cent from a year earlier, having surpassed US$1 trillion for the first time in April
  • China is also seeing rising capital inflows from other channels which continues to place unwanted upwards pressure on the yuan exchange rate

Topic |   Yuan
China’s foreign exchange deposits hit a historic high of US$1.01 trillion at end of May, up 35.7 per cent from a year earlier, after having surpassed US$1 trillion for the first time in April, according to data from the People’s Bank of China (PBOC). Photo: AFP China’s foreign exchange deposits hit a historic high of US$1.01 trillion at end of May, up 35.7 per cent from a year earlier, after having surpassed US$1 trillion for the first time in April, according to data from the People’s Bank of China (PBOC). Photo: AFP
China’s foreign exchange deposits hit a historic high of US$1.01 trillion at end of May, up 35.7 per cent from a year earlier, after having surpassed US$1 trillion for the first time in April, according to data from the People’s Bank of China (PBOC). Photo: AFP
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