China Forex reserves drop to lowest since 2012
China's Foreign-exchange reserves have dropped by $99.5 billion in January to $3.23 trillion, the lowest level since 2012, according to a People’s Bank of China statement. The fall in reserves was attributed to the weakening Yuan, slower economic growth in China and increasing outflows. Notably, China's foreign-exchange reserves fell by over $500 billion in 2015, its first-ever annual decline. 