Economic Indicators

China forex reserves fall to $3.115 trln in September


A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. REUTERS/Athit Perawongmetha/File Photo

 

SHANGHAI (Reuters) – China’s foreign exchange reserves fell more than expected in September, official data showed on Saturday, as the U.S. dollar rose against other major currencies.

China’s reserves – the world’s largest – fell $45 billion to $3.115 trillion last month, compared with $3.13 trillion tipped by analysts in a Reuters poll, from $3.16 trillion in August.

The yuan fell 0.5% against the dollar in September, while the dollar rose 0.2% against a basket of other major currencies over the month.

China held 70.46 million fine troy ounces of gold at the end of September, up from 69.62 million ounces at the end of August.

The value of China’s gold reserves fell to $131.79 billion at the end of September from $135.22 billion at the end of August.

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