China's forex reserves register biggest rise in 7 months
By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-08-07 18:44
China's foreign exchange reserves increased to $3.2564 trillion as of the end of July, up 1.06 percent or $34 billion from the previous month, the biggest increase so far this year, official data showed on Wednesday.
The State Administration of Foreign Exchange said that the country's foreign exchange reserves rose last month amid a declining US dollar index and rising global financial markets.
Meanwhile, China's official gold reserves came in at 72.8 million ounces at the end of July, staying unchanged for the third consecutive month after the 18-month streak of increase, according to SAFE.
The administration added that China's steady and improving economic fundamentals will help its foreign exchange reserves stay generally stable going forward.
