Yuan turnover soars in sign of December outflow pressures - BBG

Bloomberg carried an article on Tuesday, citing that the onshore Yuan’s daily average trading volume surged this month on persistent Yuan weakness, suggesting that China’s capital outflows are accelerated this month at a faster pace.

According to data from China Foreign Exchange Trade System (CFETS), the daily average value of transactions in Shanghai climbed to $34 billion in December as of Monday, the highest since at least April 2014.

Further, this month’s jump in trading volume signals sentiment has kept deteriorating since November, when the nation’s foreign-exchange reserves shrank by the most since January.