ALBAWABA – Despite the fall in September exceeding analyst expectations, China’s forex reserve remain the world’s largest, at $3.115 trillion, official data showed on Saturday.
China’s forex reserves fell by $45 billion in September, from $3.16 trillion in August, some $35 billion more than expected, according to a Reuters poll.
Meanwhile, the Yuan fell 0.5 percent against the dollar in September, which has gained 0.2 percent against a basket of other major currencies over the month.
China's forex reserves have been rising since the beginning of the year - Shutterstock
On the other hand, China’s reserves of gold grow to 7046 million fine troy ounces by the end of September, up from 69.62 million ounces at the end of August.
However, the value of China's gold reserves fell to $131.79 billion at the end of September from $135.22 billion at the end of August.
Earlier in April this year, China's forex reserves rose by 0.65 percent in April, official data showed in May, marking two months of growth and ushering in months of further growth thus far. Chinese foreign trade transactions settlements in Yuan surged from a total of $434.5 billion in February, to a record high of $549.9 billion in March, overtaking the dollar for the first time in history.
