WORLD
Mainland's December forex fall is the largest ever seen
Baku, January 8, AZERTAC
Mainland China's foreign exchange reserves saw their biggest ever monthly drop in December, falling to a three year low, official figures showed, as the central bank sells U.S. dollars to prop up its currency, according to China Post.
The country's foreign exchange stockpile, the world's biggest, declined to US$3.3 trillion last month, down some US$108 billion from November, according to figures released by the State Administration of Foreign Exchange (SAFE).
China's total reduction last year was US$513 billion, its first annual decline, with economic growth expected to have slowed to its lowest pace in a quarter of a century.
Official data on fourth-quarter and annual growth is due to be released later in January.
China weakened the value of its yuan currency by 0.51 percent against the U.S. dollar on Thursday, marking the biggest drop since August, when Beijing guided the normally stable unit down by nearly five percent in a week in a surprise devaluation.
Analysts believe yuan will keep depreciating this year despite Beijing's tight grip on currency flows.
FEEDBACK
Other news in this section
- 23.04.2024 [13:59]
Tunisia, Algeria, Libya agree to advance cooperation
- 23.04.2024 [13:33]
Copernicus report shows year of weather extremes in Europe
- 23.04.2024 [10:19]
4 missing after vessel hit bridge in China's Guangdong
- 23.04.2024 [10:12]
10 killed after 2 Malaysian military helicopters crash
- 22.04.2024 [18:20]
Egypt reclaims 3,400-year-old stolen statue of King Ramses II
- 22.04.2024 [14:45]
Global defence budget jumps to record high of $2440bn
- 22.04.2024 [13:46]
Türkiye's President Erdogan arrives in Iraq's capital Baghdad for talks
- 22.04.2024 [12:54]
UN says heavy rains to affect about 770,000 people in Somalia
Azerbaijan, Bahamas Gymnastics Federation embark on cooperation
- 23.04.2024 [15:57]
Slovenia hosts high-level conference of Nizami Ganjavi International Center
- 23.04.2024 [15:18]
Azerbaijan Army’s tanks units hold competition, Defense Ministry VIDEO
- 23.04.2024 [15:02]
Azerbaijan produces over 7 billion kWh of electricity in Q1 2024
- 23.04.2024 [14:43]
Another 39 families relocated to Fuzuli city get house keys VIDEO
- 23.04.2024 [14:01]
Tunisia, Algeria, Libya agree to advance cooperation
- 23.04.2024 [13:59]
Copernicus report shows year of weather extremes in Europe
- 23.04.2024 [13:33]
Heydar Aliyev International Airport: the path to development
- 23.04.2024 [13:03]
Azerbaijan, Albania abolish visa regime
- 23.04.2024 [12:44]
Oil prices in global markets
- 23.04.2024 [11:24]
Türkiye hosts inaugural event on ocean action, climate crisis
- 23.04.2024 [11:02]
Azerbaijani oil price declines in global markets
- 23.04.2024 [11:00]
4 missing after vessel hit bridge in China's Guangdong
- 23.04.2024 [10:19]
10 killed after 2 Malaysian military helicopters crash
- 23.04.2024 [10:12]
Inter Milan win Italian Serie A title with 5 games left
- 23.04.2024 [09:57]
Pakistan-Azerbaijan Economic Integration Model: An Expert Opinion
- 22.04.2024 [23:55]
Azerbaijani FM embarks on official visit to Czech Republic
- 22.04.2024 [23:47]
President Ilham Aliyev concluded his working visit to Russia
- 22.04.2024 [23:32]
President of Russia: BAM shapes global logistics for the entire 21st century
- 22.04.2024 [21:34]
Chair of Georgian Parliament’s committee visits Milli Majlis
- 22.04.2024 [21:08]
Presidents of Azerbaijan and Russia had joint dinner
- 22.04.2024 [20:55]
Jordan welcomes Azerbaijan-Armenia agreement and border demarcation efforts
- 22.04.2024 [19:06]
Azerbaijani boxer beats Armenian rival at European Championships in Serbia
- 22.04.2024 [18:53]
Egypt reclaims 3,400-year-old stolen statue of King Ramses II
- 22.04.2024 [18:20]
Baku Engineering University teams shine at Robotex Türkiye
- 22.04.2024 [17:56]
Azerbaijan, Georgia discuss cooperation in transport and ICT sectors
- 22.04.2024 [17:10]
ANAMA: 452 unexploded ordnances neutralized over past week
- 22.04.2024 [15:44]
Azerbaijani judokas shine at Lignano Junior European Cup 2024
- 22.04.2024 [15:33]
160 Chinese electric buses to hit the roads in Azerbaijan in 2024
- 22.04.2024 [15:14]
Global defence budget jumps to record high of $2440bn
- 22.04.2024 [14:45]
Conference on Azerbaijan-China relations commences in Baku VIDEO
- 22.04.2024 [14:27]
Türkiye's President Erdogan arrives in Iraq's capital Baghdad for talks
- 22.04.2024 [13:46]
Sun Zhuangzhi: Azerbaijan is of great significance to Chinese people
- 22.04.2024 [12:59]
UN says heavy rains to affect about 770,000 people in Somalia
- 22.04.2024 [12:54]
Air Defense Units conduct live-fire tactical exercise
- 22.04.2024 [12:51]
11 missing in Guangdong rainstorm
- 22.04.2024 [11:41]
Azerbaijani Paralympic swimmer secures European gold in Portugal
- 22.04.2024 [11:13]
UK returns looted Ghana treasures on loan in six-year deal
- 22.04.2024 [10:58]
Global oil prices drop
- 22.04.2024 [10:57]
Azerbaijan relocates 39 more families to Fuzuli city VIDEO
- 22.04.2024 [10:57]
UAE welcomes agreement between Azerbaijan and Armenia
- 22.04.2024 [10:50]
Real Madrid secure hard-fought 3-2 win against Barcelona
- 22.04.2024 [10:31]
1,300 people evacuated as 1999 NATO bomb removed from Serbian city
- 22.04.2024 [10:27]
Japan PM sends offering to war-linked Yasukuni shrine for spring rite
- 22.04.2024 [10:22]
Ersin Tatar announces upcoming visit to Azerbaijan
- 21.04.2024 [21:18]
Two Japan navy helicopters crash, one body found, 7 missing
- 21.04.2024 [14:18]