China's forex reserves end-Jan $3.23trln vs $3.21trln exp

Down by $99.5bln to the lowest since March 2012 as the PBOC intervenes to stem further yuan devaluation amid increasing yuan outflows.

2015 saw a decline in the world's largest forex reserves by over half a trillion US dollars, the first ever annual decline. December saw capital outflows increased to $158.7bln and over $1trln in total last year, seven times more than that which left in 2014.

Chinese authorities continue to threaten/carry out punishment to prevent yuan selling but at this rate of pace will face a really difficult task to keep intervening. Even with their level of reserves there comes a time when enough is enough.

Enjoy the rest of your week-end everyone and have fun watching the Super Bowl later if that's your bag. Sadly my 05.00 GMT starts here have put paid to my watching it live!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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