China’s foreign exchange reserves fell to $ 31.5 billion in September

0


China's foreign exchange reserves fell to $ 31.5 billion in September

China’s foreign exchange reserves have fallen 0.97 percent since the end of August.

Beijing: China’s foreign exchange reserves, the world’s largest, 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.

According to the State Administration of Foreign Exchange (SAFE), the level has declined by 0.97 per cent since the end of August.

Wang Chuning, SAFE deputy director and spokesman, attributed the September fall in foreign exchange reserves to the combined impact of currency translation and changes in property prices.

Affected by factors such as the Govt-19 epidemic and expectations for the monetary policy of key countries, the dollar index strengthened, Wang said, adding that non-dollar currencies weakened and the change in property prices led to a fall in China’s foreign exchange reserves, according to the state-run Xinhua news agency.

(This story was not edited by NDTV staff and was created automatically from a syndicate feed.)



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here