CHINA’S outbound yuan payments surged to a record in September, indicating greater pressures on a currency that has weakened to a six-year low in both onshore and overseas markets.

    A net US$44.7 billion worth of yuan payments left the nation last month, according to data posted on the State Administration of Foreign Exchange’s website Friday. That’s the most since the government started releasing the figures in 2010, and compares with August’s outflow of US$27.7 billion.

    Goldman Sachs Group Inc. has warned such large cross-border moves can’t be explained by market-driven factors and need to be taken into account when measuring currency outflows.

    The yuan has come under increased pressure recently, with some analysts speculating that the central bank has reduced support after the currency entered the International Monetary Fund’s Special Drawings Rights on Oct. 1.

    Renewed strength in the U.S. dollar has added to the stress, with the offshore yuan trading near a record low and the onshore currency declining in all but one session this month.

    The State Administration of Foreign Exchange data released Friday also show that domestic banks sold a net 179.3 billion yuan (US$26.5 billion) in foreign exchange for clients last month.

    That’s the highest since March. A senior official at the regulator said in a group interview Friday that the State Administration of Foreign Exchange hasn’t seen panic purchase of foreign currencies.

    Yuan demand from foreign financial institutions is expected to rise steadily after SDR inclusion, according to the official, who asked not to be identified.

    Offshore yuan fell to its lowest level in six years against the dollar Friday after the global dollar index hit its highest level since March. (SD-Agencies)