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Financial News: China Forex Reserves Rise In October

China Forex Reserves Rise In October

11/07/2022 - 07:57:00 (RTTNews)

(RTTNews) - China's foreign exchange reserves increased in October on valuation effects, official data showed Monday.

Foreign exchange reserves increased by $23.5 billion from last month to $3.052 trillion in October. The expected level was $3.018 trillion.

The State Administration of Foreign Exchange reportedly said the forex reserves increased due to the combined impact of currency translation and changes in asset prices.

During January to October, foreign exchange reserves fell $197.74 billion, data showed. At the end of October, gold reserves decreased to $102.67 billion from $104.72 billion at the end of September.

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