As the US dollar strongly strengthens other major currencies, China's decline in foreign exchange reserves as of the end of October exceeded expectations.
The data released by the People's Bank of China on Thursday (November 7) showed that as of the end of October, the scale of Chinese foreign exchange reserves was US $ 326,1050 million (S $ 4324.7 billion), which was reduced from 3316.367 billion U.S. dollars in the end of September, a decrease of decrease55.317 billion US dollars.
Surging News reported that in the context of the strong rise in the US dollar index in October, the balance of foreign exchange reserves ended the previous three consecutive months.
The US dollar index has risen strongly in October, an increase of more than 3%.The exchange rate of the RMB against the US dollar fell 1.43%.
Reuters reports that China ’s foreign exchange reserve is the world’ s largest country. Reuters survey for the median forecast for China's foreign exchange reserves at the end of October is 3.29 trillion US dollars.
In terms of gold reserves, the Central Bank of China has suspended its holdings for six consecutive months.
The gold reserve data released by the People's Bank of China on Thursday shows that the gold reserve at the end of October was 72.8 million ounces. It has remained unchanged since the end of April. Previously, the Central Bank of China had increased its holdings for 18 consecutive months.
