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Market News

China FX reserves end-July USD 3.081trln vs 3.057trln prev


China FX reserves end-July data now out 7 Aug

  • gold reserves $75.084bln vs $73.585bln end-June
  • gold reserves 59.24 mln fine troy oz as prev

First time reserves have climbed 6 months in a row since June 2014 suggesting less PBOC intervention having burned through $320bln to take total reserves below $3trln.

FX regulator SAFE says:

  • reserves in July boosted by appreciation of non-USD currencies
  • cross border flows remain stable
  • reserves expected to remain stable in future

As Paul Hogan famously said in Crocodile Dundee, that's is an impressive amount of reserves compared to others.

 


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