China forex reserves fall to the lowest since late 2011

- Reuters

BEIJING: China’s foreign exchange reserves fell US$28.57bil in February, slightly less than expected and easing from January’s slump, suggesting the central bank is scaling back its interventions to support the yuan as capital outflows slow.

Still, China’s foreign reserves declined for a fourth straight month, and the US$3.2 trillion at the end of February was the lowest level since December 2011, data from the People’s Bank of China showed yesterday.