China’s foreign exchange reserves increased to $3.32 trillion by the end of August, marking a rise of $29.9 billion, or 0.91 percent, compared to the end of July.
The State Administration of Foreign Exchange in China attributed the increase to the combined effect of currency exchange movements and asset price changes. According to the authority, the Chinese economy continues to maintain steady growth with strong resilience and vitality, providing solid support for the overall stability of foreign exchange reserves.
The U.S. dollar index declined in August as expectations regarding monetary policies of major economies and macroeconomic data influenced the market, while global financial asset prices generally increased.
