POPA Recon🇨🇳China's foreign exchange reserves surge, yuan rally slows
🇨🇳China's foreign exchange reserves surge, yuan rally slows China's foreign exchange reserves recorded an inflow of $74.7 billion in the second quarter, the largest quarterly increase in 12 years. Analysts said authorities had absorbed strong foreign currency inflows to limit the pace of yuan appreciation and maintain exchange rate stability. The Yuan has now strengthened for six consecutive quarters and reached its highest level since 2023. Strong exports continue to support the currency, and the People's Bank of China (PBOC) appears willing to allow further gains, but at a controlled pac…
The excerpt is quoted from a public Telegram channel, which owns its text.