IslamicFinance.de

China’s foreign-exchange reserves fell by a record in the third quarter as the central bank sold dollars to support the yuan after a surprise August 11 devaluation sparked the currency’s steepest slide in two decades. The stockpile plunged by $180 billion in the three months through September to $3.51 trillion. The hoard shrank $43.3 billion in September, less than the $57 billion predicted in a survey, suggesting the pace of central bank intervention has eased. The central bank has this year lowered the proportion of deposits that lenders must lock away in an effort to offset capital outflows and intervention to support the yuan.