China reserves edge below $3 tril. as yuan pressure rises
World BusinessFeb 7, 2017
China’s foreign-currency reserves edged just below $3 trillion in January, falling to the lowest since early 2011 after the yuan capped its steepest annual decline in two decades.Reserves decreased $12.3 billion to $2.998 trillion, the People’s Bank of China said Tuesday. That compares with the $3.004 trillion estimate in a Bloomberg survey of economists and added to the $320 billion decrease in the holdings last year.Further erosion of the world’s largest stockpile may prompt policy makers to a