Data out from the PBOC earlier.
- $3.23bln prev
The lowest level since 2011 and fourth straight monthly drop, but less of a fall than in January and supporting the notion/rhetoric that the official intervention to prevent yuan devaluation is being reduced.
PBOC dep gov Yi Gang said last Friday that he expected reserves to stabilise as yuan expectations steadied.
2015 saw a decline in the world's largest forex reserves by over $0.5trln, the first ever annual decline. December saw capital outflows increased to $158.7bln and over $1trln in total last year, seven times more than that which left in 2014.
Recent regulatory measures may have helped the PBOC stem the outflows along with lowered expectations of further US Fed rate hikes but they are not out of the woods yet.
