China FX reserves rise for fifth consecutive month

PBoC figures show $3.22 billion increase, resulting in fifth monthly reading above $3 trillion

Asian dragon
Show of strength: yuan appreciated by 2.74% against the dollar this year; last year it fell 6.6%

China’s foreign exchange reserves rose for the fifth consecutive month in June, as stricter capital controls helped stem outflows from the country and a stable yuan encouraged foreign investors to pour more money into the mainland.

Figures published by the People’s Bank of China (PBoC) show FX reserves increased by $3.22 billion to $3.056 trillion at the end of June – up from $3.054 trillion in May and slightly below the market forecasts of $3.061 trillion expected by analysts.

June’s data

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