Investing.com - China's foreign exchange reserves fell more than expected in January, hitting the lowest level since February 2011, official data showed on Tuesday.
China’s foreign exchange reserves dropped by $12.3 billion last month to $2.998 trillion, according to data released by the People's Bank of China.
Analysts were expecting foreign reserves to fall to $3.000 trillion from the prior month’s $3.011 trillion.
Market experts attributed the decline to recent strength in the U.S. dollar against the yuan.