Free Trial

MNI POLICY: China's Sept FX Reserve Declines, Gov Data Show

     BEIJING (MNI) - The value of China's foreign currency reserve fell to
USD3.0924 trillion at the end of September from USD3.1072 trillion in the
previous month, according to data released on Oct 6 by the State Administration
of Foreign Exchange. 
     Conversion of exchange rates and asset price changes impacted the scale of
the reserve, SAFE spokeswoman Wang Chunying said in a statement. The dollar
index rose and the value of the bonds of "major countries" declined, she said. 
     "Minor fluctuations in the value of the FX reserve were mainly due to
valuation effect," and China's FX reserve has been overall stable, Wang said.
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,MI$$$$,MGQ$$$]

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.