Mubasher: China's foreign exchange reserves fell in January for the third successive month.
Foreign reserves declined by $99.5 billion to $3.23 trillion in January according to China's central bank statement. They registered the lowest level since May 2012 but remained higher than the average predicted by economists.
This is the second largest monthly decline in China’s foreign reserves after they declined in December by $107.9 billion.
China's central bank continued to strengthen the yuan's value after depreciating it in early August.
The Chinese foreign reserves are still the largest in the world, despite losing about $420 billion in the last six months. They fell by $513 billion in 2015 recording the biggest ever annual decline .
