China’s FX reserves rise for twelfth month

PBoC figures show $21.5 billion increase, bringing total reserves stockpile to highest level since September 2016

Looking ahead: consensus among forecasters contributing to FX Week is for USD/CNY to trade at 6.58 in 12 months

China’s foreign exchange reserves rose to their highest level for more than a year in January, climbing for 12 months in a row for the first time since June 2014, as tight capital controls and a strong yuan continued to stem outflows from the mainland.

Figures published on January 7 by the People’s Bank of China show FX reserves increased by $21.5 billion to $3.16 trillion at the end of January – lower than market expectations of a $28 billion gain, but still up from December when the stockpile

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