China Reserves Steady as Yuan Declines Fail to Trigger Outflows
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China’s foreign currency holdings dropped slightly last month, signaling that declines in the currency have yet to cause significant capital outflows.
Reserves declined by $8.2 billion to $3.110 trillion in August, the People’s Bank of China said Friday. That compares with $3.118 trillion the previous month and the median forecast of $3.115 trillion in a Bloomberg survey of economists.