China’s Foreign Exchange Reserves Rise For Second Straight Month As Capital Outflow Concerns Ease

China’s foreign exchange reserves rose for the second-straight month in April as the People’s Bank of China (PBoC) continued to scale back its intervention in the currency markets.

In April, China’s forex reserves — the world’s largest — rose by $7.09 billion over the previous month to $3.22 trillion. This compares to a Reuters poll that had forecast a figure of $3.20 trillion.

Although China's forex reserves have dropped steadily over the past two years, this decline is now showing signs of moderating as the yuan strengthens and capital outflow fears ease.