Property News · September 10, 2019

Capital outflows amid Hong Kong’s protests could have caused record drop in forex reserves, analysts say


Money being taken out of Hong Kong amid the anti-governments protests, as well as China’s cooling economy and the mainland’s trade war with the United States, could have been the cause for the city’s foreign exchange reserves posting their biggest monthly drop on record in August, analysts said.Foreign exchange reserves fell from a record high of US$448.4 billion in July to US$432.8 billion last month, with the US$15.6 billion decline the biggest since the data was first published in 1988, the…

Source : South China Morning Post
Read more…Capital outflows amid Hong Kong’s protests could have caused record drop in forex reserves, analysts say

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