China’s forex purchase position reached 27.430 trillion yuan (4.44 trillion U.S. dollars) at the end of May,marking the sixth straight month of rises, the People’s Bank of China announced Friday.
The figure resulted in a net increase of 66.86 billion yuan from April’s 27.363 trillion yuan, suggesting continuous capital inflows amid continued bets on yuan appreciation, according to the bank.
via Xinhua
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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