November 07, 2024 08:59 GMT
MNI BRIEF: China FX Reserves Fell In Oct, Gold Purchase Paused
MNI (LONDON) - China foreign exchange reserves fell by 1.67% month-on-month in October, and the central bank continued to pause its purchases of gold, according to the State Administration of Foreign Exchange on Thursday.
As of the end of October, China's foreign exchange reserves amounted to USD3.261 trillion, a decrease of USD55.3 billion compared to the end of September, SAFE’s data showed.(see:MNI: Fed Cut To Help PBOC Ease, Yuan Strengthen)
The People's Bank of China has not increased its gold holdings for sixth months in a row, with gold reserves at the end of October reported at 72.8 million ounces, unchanged from the previous month.
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