Beijing to follow forex flow. Beijing's one-way locks on money flows might have helped the country's foreign exchange reserves rise to a six-month high. The central bank is due to release its official forex reserves data on Wednesday, indicating the amount of money flowing in and out of the world's second-biggest economy. According.

Beijing to follow forex flow

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Beijing to follow forex flow. BEIJING - Chinese banks saw a net foreign exchange purchase of $ million in September, the first settlement surplus in more than two years as cross-border capital flows stabilized, official data showed Thursday. Chinese lenders bought $ billion' worth of foreign currency last month and sold $

Beijing to follow forex flow

The yuan in the offshore Hong Kong market strengthened to a seven-month high against the greenback on Tuesday. Beijing previously burned through its forex reserves to defend the yuan, but the tactic raised doubts about whether hard-earned reserves should be wasted on day-to-day interventions.

A stronger yuan would also give the market more confidence to raise positions in the yuan rather than the dollar. The Chinese leadership is also preparing for a big reshuffle later this year, putting a priority on stability over liberalisation.

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