China’s FX reserves fall again in December, but decline slows

Latest PBoC figures show a drop of $41 billion in December to $3.01 trillion, the sixth straight month of decline

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"Chinese FX reserves were very conveniently just above the psychological $3trn level" - Rabobank's Every

China's foreign exchange reserves continued to fall in December, albeit at a slower pace than in previous months, as the People's Bank of China (PBoC) was forced to intervene in the market to fight a surging dollar in the aftermath of the US presidential election.

Data published by China's central bank shows FX reserves shrank by $41 billion to $3.011 trillion in December – the lowest level since February 2011 and the sixth consecutive month of decline.

The drop is significant, although it is

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