Chart of the Day: China’s Forex Hoard Hits 18-Month Low on Strong Dollar
China’s foreign exchange reserves fell to an 18-month low of $3.053 trillion in October, according to the State Administration of Foreign Exchange (SAFE).
Graphic: Gao Baiyu/Caixin
Reserves fell by $33.93 billion from September, the biggest monthly drop since December 2016, according to SAFE data.
“The combination of exchange rate conversion and asset price changes has led to a slight decline in the size of foreign exchange reserves,” said SAFE spokesperson Wang Chunying at a media briefing (link in Chinese) yesterday.
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