Pressure on capital outflows from China eased significantly in the first quarter, a spokeswoman for the country’s foreign exchange regulator said on Thursday.
Expectations for yuan depreciation have weakened significantly so far this year, State Administration of Foreign Exchange spokeswoman Wang Chunying told a news conference.
China’s commercial banks sold a net $40.9 billion in foreign exchange in the first quarter, SAFE data on Thursday showed, down significantly from $124.8 billion in net sales in the first quarter of 2016.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.