China's Sept forex reserves dip to $3.1151 trn; lowest since Oct 2022

09 Oct '23

1 min read

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China's foreign exchange reserves fell in the 2nd consecutive month in September this year to $3.1151 trillion amid the strengthening of US dollar and declining global financial markets, the government recently said.
The figure was the lowest since October 2022, when it was $3.0524 trillion, and was down by 1.42 per cent compared with the end of August.

China's foreign exchange reserves fell in the second consecutive month in September this year to $3.1151 trillion amid the strengthening of the US dollar and declining global financial markets, the country’s State Administration of Foreign Exchange (SAFE) recently said.

The figure was the lowest since October last year, when it was $3.0524 trillion, and was down by $45 billion—or 1.42 per cent—compared with the end of August, SAFE was quoted as saying by state-controlled media outlets.

The Chinese administration is hopeful of economic recovery and development helping foreign exchange reserves remain generally stable in future.

ALCHEMPro News Desk (DS)

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