Pressure on capital outflows from China eased significantly in the first quarter, a spokeswoman for the country’s foreign exchange regulator said on Thursday.

Expectations for yuan depreciation have weakened significantly so far this year, State Administration of Foreign Exchange spokeswoman Wang Chunying told a news conference.

China’s commercial banks sold a net $40.9 billion in foreign exchange in the first quarter, SAFE data on Thursday showed, down significantly from $124.8 billion in net sales in the first quarter of 2016.

Source

NO COMMENTS

LEAVE A REPLY

7 + 11 =