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Chinese national currency slumps again by 1%
Finance
- 09 January, 2017
- 07:32
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Baku. 9 January. REPORT.AZ/ People's Bank of China (Central Bank of China) has depreciated its national currency by 0,9% against dollar and made 6.9262 CNY/USD.
Report informs, depreciation of yuan took place after the announcement of currency reserves by China.
Thus, China's foreign exchange reserves decreased by 41 bln USD or 1,36% in December 2016 and amounted to 3.01 trillion USD. Thus, China's foreign exchange reserves fell to the minimum level since February 2011.
Notably, China's foreign exchange reserves have shown a consistent decline in 6 months.In July 2014, reserves reached a historic high (3.99 trillion USD).At present, China's foreign exchange reserves is 24.6% less than the historic high.
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