China’s Foreign Exchange Reserves Fall $ 31.5 Billion In September.
China’s foreign exchange reserves, the world’s largest, fell to $ 3.2006 trillion at the end of September, according to official published data.
China’s foreign exchange reserves, the world’s largest, fell to $ 3.2006 trillion at the end of September, $ 31.5 billion less than the previous month, according to official data released Thursday.
Volume is down 0.97 percent from the end of August, the State Administration of Foreign Exchange (SAFE) said.
SAFE deputy director and spokesman Wang Chunying attributed the fall in foreign reserves in September to the combined impact of currency translation and changes in asset prices.
Affected by factors such as the resurgence of the Covid-19 pandemic and the expectations of the monetary policies of major countries, the dollar index rose, Wang said, adding that the weakening of non-dollar currencies and the change in prices of assets led to the drop in China’s exchange rate. reservations, The News agencies reported.