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Agricultural Development Bank of China
Economy

China's forex reserves fall in September

October 08, 2021


Abstract : China's foreign exchange reserves fell to 3.2006 trillion U.S. dollars at the end of September, down 31.5 billion dollars from a month earlier, official data showed Thursday.

Photo taken on Nov. 3, 2020 shows the view of the Lujiazui area of Pudong, east China's Shanghai. (Xinhua/Ding Ting)

BEIJING, Oct. 7 (Xinhua) -- China's foreign exchange reserves fell to 3.2006 trillion U.S. dollars at the end of September, down 31.5 billion dollars from a month earlier, official data showed Thursday.

The volume went down 0.97 percent from the end of August, said the State Administration of Foreign Exchange (SAFE).

Wang Chunying, deputy director and spokesperson of the SAFE, attributed the September decline in foreign exchange reserves to the combined impact of currency translation and changes in asset prices.

Affected by factors such as the resurgence of the COVID-19 pandemic and expectations for major countries' monetary policies, the dollar index increased, said Wang, adding that weakened non-dollar currencies and the change of asset prices led to the fall of China's foreign exchange reserves. ■

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Keyword: foreign exchange reserves

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