China foreign exchange reserves declined for two consecutive months in Beijing cagliari exchange

China foreign exchange reserves declined for two consecutive months – Beijing, China News Agency, Beijing, September 7 (reporter Wei Xi) Chinese foreign exchange reserves declined for two consecutive months. 7, China’s central bank announced the end of 8 foreign exchange reserves of $3 trillion and 185 billion 167 million, down $15 billion 890 million from the previous month, a decline of $0.5%; special drawing rights (SDR) denominated foreign exchange reserves also negative growth. Over the same period, the official reserve assets of gold reserves from 7 at the end of $78 billion 800 million to $77 billion 100 million. The bank said China researcher at the International Institute of finance Wang Youxin told reporters, the first half of this year, down China foreign exchange reserves is mainly due to the economic slowdown in the United States, non US currencies caused. From the transaction behavior can be seen, the Chinese central bank intervention in the market to reduce the decline in foreign reserves is the result of market expectations and exchange rate changes. Wang Youxin reminder, the three quarter of China’s capital outflow pressure is increasing. Since July, the Fed rate hike is expected to stage heating, which increases the fluctuation of RMB exchange rate, especially Jackson Holzer before the August annual meeting of global central bank, the Federal Reserve interest rate hike probability increases, a number of Fed officials have expressed support for the fed to raise interest rates in September, resulting in RMB devaluation of 0.15% and 0.45% respectively in 7 and August. The short term trend of capital outflows increased again. Expected, in September China’s cross-border capital flows will improve, but the four quarter trend is not optimistic. Domestic and foreign spreads, exchange rates and the Fed’s monetary policy is the main driving factor affecting China’s cross-border capital flows. Can not be ignored is that with the end of the year approaching, the Fed has a greater probability of interest rates will rise again in the four quarter, which will bring greater pressure on the RMB exchange rate and China’s cross-border capital flows, the need to guard against risks. (end)相关的主题文章:

« »

Comments closed.