The Chinese central bank’s funds outstanding for foreign exchange fell for the 20th consecutive month in June.
The People’s Bank of China’s official data indicates that funds outstanding for foreign exchange fell 34.315 billion yuan in June to 21.5 trillion yuan.
The decline in funds outstanding for foreign exchange accelerated in June, given a drop of 29.334 billion yuan in May.
Funds outstanding for foreign exchange is the amount of Chinese yuan that China’s central bank pays to financial institutions each month for the foreign currency that they obtain by means of sources including foreign investment and trade surpluses.
