The latest forex reserve data from China was released earlier today
- $3.33trln prev
Down by $99.5bln to the lowest since March 2012 as the PBOC intervenes to stem further yuan devaluation amid increasing yuan outflows.
2015 saw a decline in the world's largest forex reserves by over half a trillion US dollars, the first ever annual decline. December saw capital outflows increased to $158.7bln and over $1trln in total last year, seven times more than that which left in 2014.
Chinese authorities continue to threaten/carry out punishment to prevent yuan selling but at this rate of pace will face a really difficult task to keep intervening. Even with their level of reserves there comes a time when enough is enough.
Enjoy the rest of your week-end everyone and have fun watching the Super Bowl later if that's your bag. Sadly my 05.00 GMT starts here have put paid to my watching it live!