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China Sept Forex Reserves Fall More Than Expected as PBOC Steadies Yuan

Oct 07 , 2016

China's foreign exchange reserves fell for a third straight month in September and by slightly more than markets had expected, suggesting fresh capital outflows from the world's second-largest economy.

Forex reserves fell nearly $19 billion to $3.166 trillion, from $3.185 trillion in August, central bank data showed on Friday.

Economists polled by Reuters had expected reserves to ease to $3.18 trillion, after dropping to the lowest since 2011 in August after the central bank intervened to support the yuan currency as it weakened to near six-year lows.

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