Reported about 1 year ago
According to the People's Bank of China, the mainland's foreign exchange reserves decreased to $3,222.358 billion by the end of June, down by $96.81 billion from May, a 0.3% decrease. This trend reversed the significant increase in May when reserves grew by $31.2 billion. The gold reserves remained unchanged for the second month in a row at 72.8 million ounces. The decrease in forex reserves in June is attributed to factors such as the appreciation of the US dollar, global financial asset price increases, and the fluctuation of exchange rates and asset prices. Despite this, the Chinese economy continues to rebound with stable fundamentals supporting the forex reserves.
Source: YAHOO