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 yuan rose 1.5 per cent against the dollar in July, while the dollar last month fell 1.0 per cent against a basket of other major currencies =USD.
China held 68.69 million fine troy ounces of gold 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, Reuters reported.
