www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

China's forex reserves data may improve due to a stable yuan

(Xinhua) Updated: 2016-08-08 10:19

China's forex reserves data may improve due to a stable yuan

A photo illustration shows a $100 banknote placed above Chinese 100 yuan banknotes in Beijing in this May 10, 2013 file photo. [Photo/Agencies]

BEIJING - China's foreign exchange (forex) reserves dropped slightly in July as downward pressure eased thanks to a stronger yuan, the Chinese currency, official data showed on Sunday.

Looking forward, China's forex reserves data may improve, as yuan, also known as the renminbi (RMB), is expected to stay largely stable and forex outflows to slow down, a research team said after the data was released.

Forex reserves stood at $3.201 trillion at the end of July, down from June's $3.205 trillion, according to data released Sunday by the People's Bank of China (PBOC), the central bank.

The data was basically in line with market forecasts.

The reserves have been stable as a stronger yuan meant that the PBOC did not have to resort to using foreign exchanges to prop up the currency, and capital outflow also lessened, analysts said.

The yuan strengthened against a basket of currencies last month.

Its exchange rate composite index, which measures yuan's strength relative to currencies including the US dollar, euro and Japanese yen, came in at 95.34 at the end of July, from 95.02 a month earlier, according to financial services provider China Foreign Exchange Trade System.

China's forex reserves had been on a losing streak since November 2015 due to concerns over a weak yuan and capital flight, even slipping to a almost-five-year low of $3.19 trillion in May.

But the trend quickly returned to growth as signs of stabilizing economic growth relieved market concerns. In June, there was an unexpected rise of $13.43 billion.

China International Capital Corporation (CICC) also attributed the stabilizing forex reserves to a softening US dollar (USD), which boosted the valuation of non-USD reserves.

Forex outflows from China may have continued in July, but at a slower pace, also contributing to the narrowing of forex reserve shrinking, the CICC, China's leading investment bank, said in a report.

The RMB's inclusion in the SDR basket, scheduled to come into effect in October, would not result in a sharp depreciation of the currency.

The investment bank called it a "misperception" that China will devaluate the RMB after the SDR inclusion takes effect.

As the International Monetary Fund's (IMF) third largest shareholder and a new SDR currency issuer, China needs to establish its credibility for consistent and transparent policymaking. And this is in China's own interest, the report said.

Exchange rate instability, as a source of policy uncertainty, would discourage investment and consumption, dragging China into an "uncertainty trap," CICC said.

"Against this backdrop, we expect the RMB to be largely stable and forex outflows to slow down in the second half of 2016, and the sharp declines of forex reserves are not likely to repeat any time soon," it added.

Even after two years' declining, China's reserves remain the largest in the world.

China still has abundant forex reserves that can help fend off risks from cross-border capital flows, Wang Chunying, spokesperson of the State Administration of Foreign Exchange, said in late July.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 高清精品一区二区三区一区 | 久久国内免费视频 | 男人和女人的做刺激性视频 | 日韩国产欧美精品综合二区 | 4455四色永久免费 | 亚洲午夜久久久久国产 | 国产精品国色综合久久 | 日韩欧美中文字幕在线观看 | 白白在线观看永久免费视频 | 万全影院亚洲影院理论片 | 黄色毛片在线 | 日韩毛片免费线上观看 | 亚洲精品一区二区三区四 | 一区视频在线播放 | 亚洲成人免费 | 97国产精品视频观看一 | 国产一区二区在免费观看 | 国产高清美女一级a毛片久久w | 成人a毛片视频免费看 | 久久精品2| 草草影院ccyy国产日本欧美 | 国产高清一级毛片在线不卡 | 亚洲国产人成中文幕一级二级 | 在线精品国产一区二区 | 在线观看片成人免费视频 | www.日本高清视频.com | 欧美精品aaa久久久影院 | 波多野结衣在线免费视频 | 亚洲va久久久噜噜噜久久狠狠 | 色噜噜狠狠大色综合 | 日本久久网 | 成人永久免费视频网站在线观看 | 最近韩国日本免费免费版 | 久久免费在线观看 | 男女免费观看视频 | 99久久一区 | 美美女高清毛片视频黄的一免费 | 国产性大片黄在线观看在线放 | 日本大臿亚洲香蕉大片 | 久久精品一区 | 久久99精品综合国产首页 |