FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CHINA PRESS: FX Rises Above USD3.3 Trillion In September

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

China’s foreign exchange reserves were USD3.32 trillion at the end of September, rising above the USD3.3 trillion mark again for the first time since December 2015, Securities Times reported citing data by the State Administration of Foreign Exchange. This was mainly due to a 0.96% decline in the U.S. dollar index over the month, alongside an appreciation of onshore yuan by 725 basis points against the greenback, the newspaper said. The accelerated allocation of Chinese assets by foreign investors following the country’s latest pro-growth measures has also provided strong support for FX stability, as the yuan continues to rise and banks' forex settlement and sales on behalf of customers have turned into a surplus, the Times said citing Wen Bin, chief economist at China Minsheng Bank.

126 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

China’s foreign exchange reserves were USD3.32 trillion at the end of September, rising above the USD3.3 trillion mark again for the first time since December 2015, Securities Times reported citing data by the State Administration of Foreign Exchange. This was mainly due to a 0.96% decline in the U.S. dollar index over the month, alongside an appreciation of onshore yuan by 725 basis points against the greenback, the newspaper said. The accelerated allocation of Chinese assets by foreign investors following the country’s latest pro-growth measures has also provided strong support for FX stability, as the yuan continues to rise and banks' forex settlement and sales on behalf of customers have turned into a surplus, the Times said citing Wen Bin, chief economist at China Minsheng Bank.