Chinese Reserves Fall 2.2pc in November

Chinese forex reserves fell 2.2 percent in November 2016. It was the largest drop since the 3.0 percent one-month slide in January 2016. November and December 2015 were also larger, as was August 2015. Before that, you have to go back to September 2014 and May 2012 to find similarly large declines. The year-on-year decline slowed from 11.5 percent in October, to 11.2 percent in November, due to the favorable yoy comparison. The yoy decline peaked (for now) in February 2016 at 15.8 percent.

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