24 April 2019

Outstanding forex funds up sharply in Sept, PBoC says

China’s funds outstanding for foreign exchange at the end of September rose to 25.35 trillion yuan (US$4.29 trillion), the highest since May and up 268.2 billion yuan from August, according to data released by the People’s Bank of China Tuesday. According a Shanghai Securities News report on Wednesday, the sharp rise suggested the central bank had significantly increased its funding to banks via foreign exchange channels and that the pressure from foreign capital inflow is gaining. China International Capital Corp. Ltd. chief economist Peng Wensheng was quoted as saying the higher inflow of foreign capital mainly reflected rising risk appetite for China.

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