China's FX reserves plunge to more than three-year low

Latest PBoC figures show a drop of $99.5 billion in January to $3.23 trillion

China
Sinking feeling: the drop means China's reserves have shrunk by 19% from their peak in June 2014

China's foreign exchange reserves fell to their lowest level in more than three years in January, raising doubts about the sustainability of Beijing's action to defend the yuan and prevent capital outflows.

The news came amid mounting concerns that the rate of decline will make it difficult for China to support its currency by selling dollars and buying the renminbi, as such steps will drain liquidity from the slowing economy.

Figures released by the People's Bank of China (PBoC) show FX

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: