Posted inChina, Shanghai

China FX treasure chest restored to more than US$3 trillion

China’s foreign exchange reserves unexpectedly peeked back above the closely watched US$3 trillion level in February, giving the yuan a short-lived boost to 6.8890 yuan against the greenback from 6.8940 in offshore trading just moments after the numbers were announced. Indeed, in a move that appeared to uncannily presage the better-than-expected reserves data, a late rally […]