China forex reserves rise unexpectedly by US$13 bil. in JuneBEIJING -- Mainland China's foreign exchange reserves unexpectedly increased by US$13 billion last month, officials said Thursday, as pressure on its currency the yuan to depreciate apparently eased. The result follows months of declines as China sold dollars to defend the yuan against depreciation caused by capital outflows as its economy slows. The world's largest currency hoard rose to US$3.21 trillion in June, the People's Bank of China said on its website. China's total forex reserves remain down 20 percent from their US$4 trillion peak in 2014.

Source: The China Post July 07, 2016 17:48 UTC