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China's foreign reserves surged by $74.7 billion in Q2, marking the largest quarterly increase in over 12 years
Analysts suggest authorities absorbed strong foreign-currency inflows to manage the pace of yuan appreciation and maintain exchange-rate stability. The yuan has now strengthened for six consecutive quarters, reaching its highest level since 2023, supported by strong exports. The People's Bank of China (PBOC) appears willing to allow further gains, but at a controlled pace.
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