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Coronavirus: China foreign exchange reserves drop to 17-month low as market turmoil pushes up US dollar

Summary:
[unable to retrieve full-text content]China’s foreign exchange reserves fell to their lowest level in 17 months as global impact of the coronavirus pandemic caused a plunge in global asset prices and a rise in the US dollar exchange rate.Central bank data showed on Tuesday that China’s reserves – the world’s largest – fell US.085 billion in March to US.061 trillion. That was much worse than the expected drop of US.718 billion to .100 trillion, according to an economists poll by Reuters.The fall was due to changes in prices…

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[unable to retrieve full-text content]
China’s foreign exchange reserves fell to their lowest level in 17 months as global impact of the coronavirus pandemic caused a plunge in global asset prices and a rise in the US dollar exchange rate.Central bank data showed on Tuesday that China’s reserves – the world’s largest – fell US$46.085 billion in March to US$3.061 trillion. That was much worse than the expected drop of US$6.718 billion to $3.100 trillion, according to an economists poll by Reuters.The fall was due to changes in prices…

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