China’s foreign exchange reserves rise to $3.3433 trillion
BEIJING, 8th November, 2017 (WAM) – Official data issued by the National Foreign Exchange Authority of China showed that the country’s total foreign exchange reserves rose to 3.3433 trillion US dollars by the end of last October.
According to the data, this figure represents an increase of 4.7 billion US dollars, or 0.14%, compared to levels at the end of September.
The Authority attributed this increase to the combined effect of exchange rate conversions and asset price changes. She explained in her statement that during the month of October, despite the rise in the US dollar index, global financial asset prices rose in general, as a result of multiple factors that included macroeconomic data and monetary policy expectations of the major economies.
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