China FX reserves rise for a third straight month

PBoC figures show increase of $20.4 billion, resulting in the third consecutive monthly reading above $3 trillion

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Chinese strength: the rise in FX reserves followed a $27.40bn increase between February and March

China’s foreign exchange reserves rose for the third consecutive month in April, as capital controls and a weaker US dollar reduced the need for the People’s Bank of China (PBoC) to intervene in the markets to stem capital outflows.

Figures published on May 6 by China’s central bank show FX reserves rose by $20.4 billion to $3.03 trillion at the end of April, up from $3.009 trillion in March and only marginally below the $3.02 trillion expected by analysts.

April’s data represents the third

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