Capital is leaving China at the fastest rate in over seven years, putting pressure on the yuan. In recent weeks, the exodus has intensified due to concerns about the country’s struggling real estate industry. China’s currency regulator reported that onshore banks sold a net $19.4 billion of foreign currencies to their clients in October, the most since November 2018. Goldman Sachs also noted a significant increase in net outflows in September, reaching around $75 billion. The outflows are impacting the yuan, which has weakened this month.
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