China forex reserves rise to $3.204 trln in July By Reuters

© Reuters. FILE PHOTO: U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

BEIJING (Reuters) – China’s foreign exchange reserves rose more than expected in July, official data showed on Monday, as the dollar fell against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose $11.3 billion to $3.204 trillion last month, compared with $3.200 trillion tipped by a Reuters poll of analysts and $3.193 trillion in June.

The rose 1.5% against the dollar in July, while the dollar last month fell 1.0% against a basket of other major currencies .

China held 68.69 million fine troy ounces of at the end of July, up from from 67.95 million ounces the end-June.

The value of China’s gold reserves rose to $135.36 billion at the end of July from $129.93 billion at end-June.




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