Home/FX/Newsfeed

China Funds for FX Rises after Two Consecutive Falls

Share Print 0

The funds outstanding for foreign exchange is the amount of yuan that Chinese banks have to put into the domestic market to purchase foreign exchange from individuals and institutional clients. It is an indicator of cross border capital flows for the domestic Chinese market.

China’s financial institutions saw their yuan funds outstanding for foreign exchange increase 130.68 billion yuan (20.71 billion U.S. dollars) in September after two months of falls, data from the central bank showed Friday.

The funds have been shrinking since July as a result of slowing foreign trade and dropping foreign direct investment amid global economic woes, according to figures from the People’s Bank of China.

via Xinhua

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.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top