BUSINESS China's foreign exchange market stable in November

BUSINESS

China's foreign exchange market stable in November

Ecns.cn

12:01, December 22, 2018

China's foreign exchange market remained stable in November with a balanced demand and supply of foreign currencies, said Wang Chunying, spokesperson for the State Administration of Foreign Exchange (SAFE). 

VCG111171841444.jpg

Photos: VCG

China's foreign exchange reserves reached $3.0617 trillion at the end of November, up $8.6 billion from a month earlier. 

The Chinese currency (yuan) has basically strengthened against the greenback since last month.

The use of foreign capital by enterprises, outbound investment and cross-border financing have been steady, while individual purchases of foreign exchange continued to slow with a year-on-year decline of 9 percent in November, said Wang. 

China’s further opening-up, market-centered reforms, and resilience and flexibility in the economy, will help maintain stability in its forex market, it was added.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue