China’s worst fears come true; its FOREX reserves have hit a severe low

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Added 2 years ago by admin

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As per China's State Administration of Foreign Exchange, also called SAFE, the volume of decline in Chinese foreign exchange reserves was recorded at a whopping 0.97 per cent from the end of August. Meanwhile, SAFE Deputy Director and Spokesperson Wang Chunying blamed the combined impact of currency translation and changes in asset prices for the steep decline in Chinese forex reserves. Watch the video for more.

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