People's Bank of China's new data on foreign exchange purchases point to relieved pressure

A narrowed decline in foreign exchange bought by the central bank last month indicates capital outflows from China are easing, contributing to yuan stabilization, according to analysts.

The People's Bank of China said yuan holdings for foreign exchange purchases held by Chinese financial institutions fell by 54.4 billion yuan ($8.3 billion) to stand at 23.78 trillion yuan in April.