China’s foreign exchange reserves, the largest in the world, increased by 0.9% to $3 trillion 316.4 billion in September compared to $3 trillion 288.2 billion a month earlier, according to the country’s State Administration of Foreign Exchange (SAFE). They are at their highest level in 8.5 years (since December 2015), according to Trading Economics. At the same time, analysts surveyed by this publication predicted an average increase to $3.3 trillion.
In September, the yuan exchange rate rose by about 1.1% against the US national currency. Meanwhile, the US dollar fell by 1% against a basket of major world currencies.
China’s gold reserves amounted to 72.8 million ounces at the end of last month, SAFE also reported. The volume of precious metal reserves has remained at this level since April.
At the same time, in value terms, gold reserves increased to $191.47 billion from $182.98 billion at the end of August due to the rise in precious metal prices to a record level.
