Economic Buzz: Chinas Forex Reserves Increases In October

8 Nov 2022 , 10:50 AM

Chinas foreign exchange reserves increased in October on valuation effects, official data showed. Foreign exchange reserves increased by $23.5 billion from last month to $3.052 trillion in October. The State Administration of Foreign Exchange reportedly said the forex reserves increased due to the combined impact of currency translation and changes in asset prices. During January to October, foreign exchange reserves fell $197.74 billion, data showed. At the end of October, gold reserves decreased to $102.67 billion from $104.72 billion at the end of September.Powered by Commodity Insights