You are here: Home » International » News » Finance
Business Standard

Decline in foreign reserves slows as currency stabilises

The world's largest currency hoard dropped by $28.6 billion to $3.2 trillion in February, the People's Bank of China said in a statement Monday

Bloomberg 

China's foreign-exchange reserves fell at a slower pace last month as the nation's financial markets stabilised and policy makers took more steps toward shoring up growth. The world's largest currency hoard dropped by $28.6 billion to $3.2 trillion in February, the People's Bank of China said in a statement Monday. That was the smallest decline since June and less than the $40.9 billion decrease expected by economists surveyed by Bloomberg, who had a median projection that reserves would fall to $3.19 trillion. China's yuan advanced in February against the dollar after ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, March 08 2016. 00:16 IST
RECOMMENDED FOR YOU