China’s foreign exchange reserves came in at 3.1012 trillion U.S. dollars at the end of October, down 13.8 billion dollars from the end of September
China’s foreign exchange reserves came in at 3.1012 trillion U.S. dollars at the end of October, down 13.8 billion dollars from the end of September, the State Administration of Foreign Exchange said Tuesday.
The country’s foreign exchange regulator attributed this decrease to the combined impact of currency translation and asset price changes.
The U.S. dollar index rose in October, and the prices of global financial assets declined, affected by the monetary policy expectations of major economies and their macroeconomic data as well as geopolitics, the regulator said.
China’s economic recovery has gained momentum, and the fundamentals of the Chinese economy have not changed, which is conducive to maintaining the stability of the scale of foreign exchange reserves, the regulator added.
Source: Xinhua
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