China FX reserves rise for ninth consecutive month
PBoC figures show $700 million increase, bringing total reserves stockpile to 12-month high
China’s foreign exchange reserves rose for the ninth consecutive month in October, as tight capital controls and a surging yuan continued to stem outflows from the mainland.
Figures published on November 7 by the People’s Bank of China (PBoC) show FX reserves increased by $700 million to $3.109 trillion at the end of October – missing market expectations of a $9.5 billion gain and up from September when the stockpile rose $17 billion.
October’s data represents the ninth consecutive monthly
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