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Goldman Sachs warned that the yuan may be headed for recording its steepest decline in more than 20 years.

Goldman Sachs Issues Warning on China’s Mounting Currency Outflow

Dec 21, 2016 06:39 PM EST

According to a research report released by Goldman Sachs, the People's Bank of China (PBOC) liquidated $1.1 trillion worth of foreign currency reserves since August previous year. This amount more than doubles the $540 billion figure reported by the PBOC for the period between August 2015 and November 2016.

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