3Novices:Chinese currency regulator claims victory and vindication as capital flight pressure eases

China’s currency regulator has claimed an early albeit cautious victory in its battle to stem the yuan’s capital flight, saying the country is coping “remarkably well” with the higher interest rates brought on by the US Federal Reserve.
Chinese commercial banks sold a net US$40.9 billion of foreign currencies in the first quarter, a 67.2 per cent decline from the same period in 2016, according to data by the State Administration of Foreign Exchange (SAFE). Chinese bank…
April 20, 2017 at 11:02AM
#3Novices #News #OnlineMedia #China 3Novices China


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