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Forex Reserves Down In August

CHINA PRESS

China recorded a 1.38% m/m drop in forex reserves to USD3.2 trillion in August, according to data from the State Administration of Foreign Exchange (SAFE). Officials said reserves decreased due to macroeconomic and monetary-policy expectations from major economies as well as the effects of exchange rate translation and changes in asset prices. In future, SAFE believes China's economy will rebound, conducive to maintain basic stability in the scale of foreign exchange reserves. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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