China February FX sales lowest in nine months
Officials expect the yuan to remain stable this year as capital outflows have abated
Reuters reports Tuesday that China’s foreign exchange sales were the lowest in nine months, signaling the government is confident capital outflows have abated. Data released on Tuesday showed that February sales totaled US$8.4 billion, down from US$30.21 billion in January. China’s central bank governor Zhou Xiaochuan said he expects the yuan will remain stable this year, though there are bound to be some fluctuations.