China's July forex reserves rise less than expected

1 hour ago

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS

China's foreign exchange reserves rose less than expected in July, central bank data showed on Friday, as the greenback resumed weakness.

The country held US$3.419 trillion in foreign exchange reserves last month, below the US$3.422 trillion forecast by analysts polled by Reuters. The reserves totalled US$3.416 trillion in June.

During the month, the yuan strengthened 0.52 percent against the dollar, while the dollar fell 1.34 percent against a basket of major currencies.

Reuters

China forex PBOC reserves

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓