China FX reserves rise for a third straight month
PBoC figures show increase of $20.4 billion, resulting in the third consecutive monthly reading above $3 trillion
China’s foreign exchange reserves rose for the third consecutive month in April, as capital controls and a weaker US dollar reduced the need for the People’s Bank of China (PBoC) to intervene in the markets to stem capital outflows.
Figures published on May 6 by China’s central bank show FX reserves rose by $20.4 billion to $3.03 trillion at the end of April, up from $3.009 trillion in March and only marginally below the $3.02 trillion expected by analysts.
April’s data represents the third
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