BEIJING - China's foreign exchange reserves fell more than expected in June, official data showed on Thursday, as the dollar climbed against other
BEIJING – China’s foreign exchange reserves fell more than expected in June, official data showed on Thursday, as the dollar climbed against other major currencies.
The country’s foreign exchange reserves – the world’s largest – fell $56.5 billion to $3.071 trillion last month, compared with $3.113 trillion tipped by a Reuters poll of analysts and $3.128 trillion in May.
The yuan fell 0.4 per cent against the dollar in June, while the dollar rose 2.9 per cent in June against a basket of other major currencies.
China held 62.64 million fine troy ounces of gold at the end of June, unchanged from the end-May.
The value of China’s gold reserves fell to $113.82 billion at the end of June from $115.18 billion at the end-May.
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