News Column

July-end Funds Outstanding for Forex Turned Positive

August 15, 2014

BEIJING, August 15, SinoCast -- Funds outstanding for foreign exchange of all financial institutions including the central bank totaled CNY 29.489176 trillion by the end of July, adding CNY 37.835 billion over the end of June.

China's export in July witnessed a significant rally and trade surplus expanded to USD 47.3 billion, a record high and a strong support for foreign exchange inflow and renminbi exchange rate. The short-term renminbi appreciation momentum is expected to continue and the possibility of re-depreciation is small.

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Source: Sinocast Banking & Credit Beat (China)

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