China FX reserves rise for eighth month running as yuan fortifies

China flag — Sound yuan: the consensus among forecasters contributing to FX Week is for USD/CNY to trade at 6.73 in 12 months’ time

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China’s foreign exchange reserves rose for the eighth consecutive month in September, as tight capital controls and a surging yuan helped to stem outflows from the mainland.

Figures published on October 9 by the People’s Bank of China (PBoC) show FX reserves increased by $17 billion to $3.109 trillion at the end of September – slightly more than analysts expected, and up from the total of $3.092 trillion in August when the stockpile rose by $10.5 billion.

September’s data represents the eighth

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