China Waking Up? Central Bank Now Selling Forex Reserves To Support Yuan |
| December 19, 2011 | December 2011 Bond Updates |
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Marking a clear break with its policies over the last several years, the People’s Bank of China (PBoC) announced a second consecutive month of foreign exchange outflows in November, a move designed to support the value of the yuan. China’s currency intervention came alongside a report showing property prices continuing to fall, as Beijing clamps down on what many see as a dangerous real estate bubble. The Red Dragon appears to be waking up. |
| View more at: http://www.forbes.com/sites/afontevecchia/2011/12/19/china-waking-up-central-bank-now-selling-forex-reserves-to-support-rmb/ |
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