外汇储备

Chinese forex reserves fall less than expected

China’s foreign exchange reserves did not fall as much as expected in February, although Beijing continued to sell dollars to support its currency and stem capital outflows.

Foreign exchange reserves dropped $28.59bn to $3.2tn in February, according to central bank data released on Monday. Analysts were expecting a reading of $3.19tn.

The drop falls far short of the steep plunges of $99.5bn in January and $107.9bn in December – the biggest on record. Reserves are at their lowest level since May 2012.

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