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BEIJING, Jan. 16 (Xinhua) -- The Chinese central bank's yuan funds outstanding for foreign exchange (forex) continued to decline in December weighed on by lingering capital outflow pressures.
The funds declined 317.8 billion yuan (around 46.1 billion U.S. dollars) in December month on month to 21.94 trillion yuan, data from the People's Bank of China showed Monday.
It marked the 14th consecutive month of decline.
As the Chinese currency is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by China's trade surplus and foreign investment in the country, adding funds to the money market.
