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China’s forex reserves fall by $31.5 billion in September



China forex volume declined 0.97 percent since the end of August.

Beijing: China’s foreign exchange reserves, which are among the largest in the world, fell to $3.2006 trillion at the end of September, down $31.5 billion from a month earlier, according to official data released on Thursday.

The State Administration of Foreign Exchange (SAFE) said volumes were down 0.97 percent since the end of August.

SAFE deputy director and spokesperson Wang Chunying attributed the September fall in foreign exchange reserves to the combined effect of currency translation and changes in asset prices.

Wang said the dollar index rose, influenced by factors such as the resurgence of the COVID-19 pandemic and expectations of major countries’ monetary policies, weakening non-dollar currencies and changes in asset prices led China’s foreign exchange to decline. The official Xinhua news agency reported that the exchange reserves.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)


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