Goldman Sees Significant Jump in China June Capital Outflows
- Bank estimates $49 billion left the nation as yuan weakened
- Recent stability may aimed at boosting sentiment, lender says
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China’s weakening currency has triggered an increase in the amount of cash leaving the country, according to analysis by Goldman Sachs Group Inc.
The U.S. bank estimates $49 billion worth of foreign-exchange outflows in June, compared with $25 billion in May. Goldman’s analysis came after China’s top currency regulator released data showing sustained demand for foreign-exchange. The yuan fell 1.1 percent against the dollar and 2.2 percent versus a trade-weighted index last month.