ecns [expanded by feedex.net]
ecns
China forex reserves, position for Forex purchase drop
http://www.ecns.cn/business/2013/01-06/43921.shtml
Jan 6th 2013, 07:45
2013-01-06 16:45 Caijing Web Editor: yaolan
comment
China's foreign exchange (forex) reserves dropped for a third time in November in 2012, according to the latest statistics released by the country's central bank on its website.
According to the People's Bank of China (PBoC), foreign exchange reserves of China's monetary authority dropped to 23.52 trillion yuan($3.78trillion) at the end of November, 2012, down 10.4billion yuan（$1.67billion）from a month ago, also the third fall in the year.
The central bank's foreign exchange reserve recorded the first decline in nearly eight years in October in 2011 followed by a two-month consecutive drop.
The November decline in forex reserves also explains the drop in position for forex purchase in the same month.
Earlier statistics showed position for forex purchase of the country's financial institutions declined 73.6billion yuan ($11.8billion) in November from the previous month despite a trade surplus and negative FDI figures.
China Customs statistics showed the world's largest economy fetched a trade surplus of $19.63billion in November, largely flat with the same month of the previous year.
Meanwhile, the country's Foreign Direct Investment (FDI) continued a consecutive fall of six months, down 5.4% in November to $8.29billion from a year ago, the Ministry of Commerce said.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
No comments:
Post a Comment