China's funds for foreign exchange drop unexpectedly

China's funds outstanding for foreign exchange fell unexpectedly in August, underscoring short-term pressure of capital outflow, according to data released Monday by the People's Bank of China (PBOC).

Funds for foreign exchange stood at 29.46 trillion yuan (4.79 trillion U.S. dollars) by the end of August, down 31.15 billion yuan from a month ago, the PBOC data showed.

The decline in August reversed a growth in funds for foreign exchange seen in July, according to the PBOC, China's central bank.