China may find it difficult to continue buying yuan: Aso

Japanese Finance Minister Taro Aso said on Friday that China may find it difficult to continue buying its own currency, given the pace of decline in its foreign currency reserves. 

PHOTO: AFP

JAN 8, 20168:08 AM

[TOKYO] Japanese Finance Minister Taro Aso said on Friday that China may find it difficult to continue buying its own currency, given the pace of decline in its foreign currency reserves.

Mr Aso also said it is up to China to decide what to do about its currency policy.

China has recently accelerated the depreciation of the yuan, which has triggered a global stock market sell-off due to concerns this could trigger competitive currency devaluations.

China's foreign exchange reserves, the world's largest, posted their biggest annual drop on record in 2015, data showed yesterday.

REUTERS