BEIJING: China’s foreign exchange reserves rose in April for a third straight month, beating market expectations, as capital controls and a pause in the dollar’s rally helped staunch capital outflows.
The April rise is reassuring news for policymakers after the yuan steadied as US president Donald Trump backed away from labelling China a currency manipulator, saying the dollar was “getting too strong” and would eventually hurt the US economy.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!