s
Global EditionASIA 中文双语Français
Business
Home / Business / Finance

China's outstanding yuan funds for forex decline in June

Xinhua | Updated: 2020-07-15 11:05
Share
Share - WeChat
A cashier counts renminbi notes in a bank in Haian, Jiangsu province, on June 24, 2020. [Photo/Sipa]

BEIJING -- China's outstanding yuan funds for foreign exchange declined in June, central bank data showed on Tuesday.

The funds stood at 21.17 trillion yuan (about $3.02 trillion) at the end of June, down by 6.02 billion yuan from the previous month, according to the People's Bank of China.

As the Chinese yuan is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by a trade surplus and foreign investment in the country, adding funds to the money market. Such funds are an important indicator of cross-border foreign capital flows and domestic yuan liquidity.

China's foreign exchange reserves expanded to $3.11 trillion at the end of June, up 0.3 percent from the end of May, according to the State Administration of Foreign Exchange.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE