China Reserves Hover Above $3 Trillion on Government Support
- Foreign currency holdings fell $41.08 billion in December
- Policy makers rolled out measures to curb FX outflows
The Biggest Policy Challenge for the PBOC in 2017?
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China’s foreign currency holdings remained above $3 trillion in December even as the yuan capped its steepest annual decline in more than two decades.
Reserves fell $41.08 billion to $3.01 trillion, the People’s Bank of China said in a statement Saturday. That matched a $3.01 trillion estimate in a Bloomberg survey of economists.