China’s foreign exchange reserves continued its downslide in December as it declined for straight six months to hit a five year low. However, the Chinese government can take respite in the fact that the decline was less than what most analysts had expected.
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China’s exchange reserves witnessed a decline of $41 billion last month to reach at $3.011 trillion, according to the data issued by China’s central bank on Saturday. The reserves had recorded more steep fall in the previous month of November at $69.06 billion.
Meanwhile, Reuters economists’ poll had predicted a more sharp decline in reserves for December. The poll estimated that the country’s reserves would drop by $51 billion to reach $3.
