China cuts US Treasury holdings to 180 bln usd as dollar slides - report
BEIJING (AFX) - China has cut the size of its US Treasury bond holdings in its foreign exchange reserves to 180 bln usd to avoid losses from a weakening US dollar, the Shanghai-based China Business News reported
The newspaper cited Yu Yongding, a member of the monetary policy committee under the central bank
It did not say how much of a reduction in Treasury debt this represented, and the central bank normally does not disclose the composition of its foreign exchange holdings
Yu, speaking at a seminar given at Shanghai University of Finance & Economics, was quoted as saying that China has cut the portion of US dollar-denominated assets as part of its foreign exchange reserves. He said this was largely a reduction in Treasury debt
The newspaper also quoted an unidentified source as saying that US dollar-denominated assets have in the past accounted for about 80 pct of China's foreign exchange reserves. Most of the US dollar assets were Treasury bonds or bills
China's end-September foreign exchange reserves stood at 514.5 bln usd, according to official data
http://futures.fxstreet.com/Futures/...9e32d306-02307
WTF!!!!!!!!! So they sold 334.5 Billion dollars worth of bonds over night?????
BEIJING (AFX) - China has cut the size of its US Treasury bond holdings in its foreign exchange reserves to 180 bln usd to avoid losses from a weakening US dollar, the Shanghai-based China Business News reported
The newspaper cited Yu Yongding, a member of the monetary policy committee under the central bank
It did not say how much of a reduction in Treasury debt this represented, and the central bank normally does not disclose the composition of its foreign exchange holdings
Yu, speaking at a seminar given at Shanghai University of Finance & Economics, was quoted as saying that China has cut the portion of US dollar-denominated assets as part of its foreign exchange reserves. He said this was largely a reduction in Treasury debt
The newspaper also quoted an unidentified source as saying that US dollar-denominated assets have in the past accounted for about 80 pct of China's foreign exchange reserves. Most of the US dollar assets were Treasury bonds or bills
China's end-September foreign exchange reserves stood at 514.5 bln usd, according to official data
http://futures.fxstreet.com/Futures/...9e32d306-02307
WTF!!!!!!!!! So they sold 334.5 Billion dollars worth of bonds over night?????
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