China foreign exchange reserves hit more than 3-year low - FT.com:
"China’s foreign exchange reserves dropped by nearly $100bn last month to the lowest level since May 2012 as Beijing continued to sell dollars to support its currency and stem capital outflows.
Fears about the slowing economy and slumping asset prices have prompted investors to shift capital out of the renminbi by buying dollar-denominated assets both at home and overseas."
'via Blog this'
No comments:
Post a Comment