Comments
China’s foreign exchange reserves, the world’s largest, fell $107.9 billion in December to $3.33 trillion, the biggest monthly drop on record, central bank data showed on Thursday.
The December figure missed market expectations of $3.40 trillion, according to a Reuters poll.
China’s foreign exchange reserves fell $512.66 billion in 2015, the biggest annual drop on record.
The value of its gold reserves stood at $60.19 billion at the end of December, up from $59.52 billion at the end of November, the People’s Bank of China said on its Web site.
Gold reserves stood at 56.66 million fine troy ounces at the end of December, up from 56.05 million at end-November.
China’s International Monetary Fund (IMF) reserve position was at $4.55 billion, down from $4.60 billion the previous month. It held $10.28 billion of IMF Special Drawing Rights at the end of last month, compared with $10.18 billion at the end of November.
The central bank in July shifted to reporting its foreign exchange reserves on a monthly basis after adopting the IMF's Special Data Dissemination Standard (SDDS). The bank had previously released the data on a quarterly basis.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.