China Currency Data Signals Second Month of Capital Outflows
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Chinese central bank data signaled that capital flowed out of the nation for a second month in November, as bets for yuan appreciation diminished.
Yuan positions at financial institutions accumulated from foreign-exchange purchases stood at 25.46 trillion yuan ($4 trillion) as of the end of November, down 27.9 billion yuan in the month, People’s Bank of China data show. The figure declined a combined 52.8 billion yuan in the past two months, the first back-to-back drop since at least 2000.