Caixin
Nov 08, 2019 05:53 PM
DAILY CHART

Charts of the Day: China’s Exchange Reserves Rebound

China’s foreign exchange reserves rebounded to $3.11 trillion in October, rising by 0.4% from $3.09 trillion the previous month, according to data (link in Chinese) from the foreign exchange regulator on Thursday.

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October’s rise was due to several factors including falling bond prices in major countries and a drop in the U.S. Dollar Index, according to a statement (link in Chinese) from the State Administration of Foreign Exchange.

The Dollar Index, which gauges the value of the greenback against a basket of foreign currencies, fell 2.04% in October to 97.35. That change increased the value of non-U.S. currencies in dollar terms. The index has rebounded since the end of last month, closing at 98.14 on Thursday.

China’s gold reserves stayed flat in October. The country finished the month with 62.64 million ounces of the precious metal, about the same amount as September, ending a streak of 10 straight monthly increases. The country’s gold stash has risen from its level of 59.24 million ounces since November 2018.

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Contact reporter Guo Yingzhe (yingzheguo@caixin.com), and editor Michael Bellart (michaelbellart@caixin.com)

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