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  1. China’s June forex reserves unexpectedly rise to $3.21 trillion

China’s June forex reserves unexpectedly rise to $3.21 trillion

Foreign exchanges reserves stood at $3.21 trillion at the end of June, the People's Bank of China reported on its website. Economists polled by Reuters had predicted reserves would fall by $20 billion to $3.17 trillion.

By: | Beijing | Updated: July 7, 2016 3:02 PM
Foreign exchanges reserves stood at .21 trillion at the end of June, the People's Bank of China reported on its website. (Reuters) Foreign exchanges reserves stood at .21 trillion at the end of June, the People’s Bank of China reported on its website. (Reuters)

China’ foreign exchange reserves in June unexpectedly rose $20 billion to $3.21 trillion, central bank data showed on Thursday, rebounding from a 5-year low in May.

Foreign exchanges reserves stood at $3.21 trillion at the end of June, the People’s Bank of China reported on its website. Economists polled by Reuters had predicted reserves would fall by $20 billion to $3.17 trillion.

China’s reserves, the largest in the world, fell by $27.9 billion to $3.19 trillion in May, their lowest since December 2011.

China’s yuan currency has fallen to 5-1/2 year lows, reviving worries about its cooling economy and a possible resurgence in capital outflows.

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