China FX reserves rise 10 months in a row

PBoC figures show $10 billion increase, bringing total reserves stockpile to 13-month high

Sound yuan: consensus among forecasters contributing to FX Week is for USD/CNY to trade at 6.69 in 12 months’ time

China’s foreign exchange reserves rose for the tenth consecutive month in November, as tight capital controls and a strong yuan continued to stem outflows from the mainland.

Figures published on December 7 by the People’s Bank of China (PBoC) show FX reserves increased by $10 billion to $3.119 trillion at the end of November – just shy of market expectations of a $11 billion gain and up from October when the stockpile rose $700 million.  

November’s data represents the tenth straight monthly

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