Published: Aug. 7, 2023 at 4:26 a.m. ET China's foreign-exchange reserves rose for a second month in a row in July, boosted by higher ass
Published: Aug. 7, 2023 at 4:26 a.m. ET
China’s foreign-exchange reserves rose for a second month in a row in July, boosted by higher asset prices, according to data released by the People’s Bank of China on Monday.
Forex reserves rose $11.27 billion in July to $3.204 trillion, according to data released by the central bank. The result was slightly lower than the median forecast of $3.207 trillion made by economists surveyed in a Wall Street Journal poll.
Prices…
China’s foreign-exchange reserves rose for a second month in a row in July, boosted by higher asset prices, according to data released by the People’s Bank of China on Monday.
Forex reserves rose $11.27 billion in July to $3.204 trillion, according to data released by the central bank. The result was slightly lower than the median forecast of $3.207 trillion made by economists surveyed in a Wall Street Journal poll.
Prices of global financial assets generally rose in July, which boosted the reserves, the State Administration of Foreign Exchange said after the data Monday. The forex regulator said the falling U.S. dollar lifted prices of non-dollar assets.
It also reiterated that the potential and resilience of the Chinese economy can help steady its forex reserves.
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