Global EditionASIA 中文双语Français
Home / Business / Finance

China's yuan funds outstanding for forex decline in February

Xinhua | Updated: 2020-03-19 14:53
Share - WeChat
China's yuan funds outstanding for foreign exchange continued to decline in February.[Photo/]

BEIJING - China's yuan funds outstanding for foreign exchange continued to decline in February, central bank data showed Wednesday.

The funds stood at 21.22 trillion yuan ($3.02 trillion) at the end of last month, down by 12.5 billion yuan from January, 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.

A similar measure of capital flow, the foreign exchange reserves came in at $3.1067 trillion at the end of February, down by $1.2 billion, or 0.04 percent, from the beginning of 2020, official data showed.

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