China banks' net forex selling at $46.5 bln in Q4 - FX regulator
Bareksa • 22 Jan 2015
A woman rides past the headquarters of the People's Bank of China, the Chinese central bank, in Beijing (REUTERS/Petar Kujundzic)
China faces pressures from capital outflows
Bareksa.com - Chinese banks sold a net $46.5 billion in spot foreign exchange settlements in the fourth quarter of 2014, China's foreign exchange regulator said on Thursday.
China faces pressures from capital outflows as there will be uncertainties in cross-border capital flows in 2015, Guan Tao, head of the department of international payments at the State Administration of Foreign Exchange (SAFE), told a news conference.
Still, China will continue to see a relatively big current account surplus this year, he added.
China's central bank and commercial banks bought the most yuan in seven years in December at around $19 billion, a Reuters calculation of data showed, suggesting some capital is leaving the world's second-largest economy as growth slows. (Reuters)