China’s Forex Reserves Grow Slightly in September
(MENAFN) China’s foreign exchange holdings climbed to $3.338 trillion by the end of September, according to data published by the State Administration of Foreign Exchange on Tuesday.
This marks a moderate increase in the nation's currency reserves, highlighting the resilience of the world’s second-largest economy.
Compared to August, China’s forex reserves rose by 0.5%, reflecting a gain of $16.5 billion.
This growth underscores a steady upward trend in the country's financial position during the month.
In its official release, the administration remarked that "although the values of international financial assets generally rose in September," the US dollar index saw "minor swings."
These shifts in global market dynamics played a role in the month’s reserve performance.
The report also emphasized that both "swap transactions and asset price fluctuations" jointly contributed to the increase in reserves.
These factors interact to shape the balance of foreign assets held by the country.
Lastly, the statement pointed out that the "stability of foreign exchange reserves" is closely tied to broader "economic stability and development advancement."
This suggests that consistent economic progress continues to support China’s capacity to maintain and grow its currency holdings.
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