FX purchases decline on signs of US QE easing
By Wang Xiaotian | China Daily | Updated: 2013-07-23 07:19
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The amount of yuan used for foreign exchange purchases by financial institutions, an indicator of capital flows, declined to 27.39 trillion yuan last month, the first drop in seven months, the central bank said. Si Wei / for China Daily |
China reported the first decline of foreign exchange purchases in seven months amid signs the United States will "taper off" its quantitative easing policy.
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