China’s foreign exchange reserves increase for the first time since July

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China’s foreign exchange reserves in October rose on a monthly basis for the first time since July, according to official data released on Sunday, as the dollar slipped against a basket of other major currencies.

China’s reserves, the largest in the world, reached $ 3.218 trillion at the end of October, up 0.53% from the previous month, according to data from the State Administration of Foreign Exchange (SAFE ).

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That was higher than the $ 3.197 trillion forecast in a Reuters analyst poll and down from $ 3.128 trillion in October 2020.

However, it remains below $ 3.232 billion at the end of August.

The dollar index fell 0.1 percent in October.

“Despite the recurring Covid-19 pandemic and the uncertainties surrounding the global economic recovery (…) a statement on Sunday.

China held 62.64 million fine troy ounces of gold at the end of October, unchanged from the previous month of 62.64 million fine troy ounces.

The value of its gold reserves climbed to $ 110.83 billion from $ 109.18 billion at the end of September as gold prices rose.


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