China’s foreign exchange reserve fell to its minimum

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China’s foreign exchange reserve fell to its minimum
November 09
09:00 2018

In October China’s foreign exchange reserves, which are the largest in the world, fell by 1.1% ($ 34 billion) with respect to the figures for the previous month.

According to the Central Bank, this figure is the minimum since April 2017. The amount of reserves in October totaled 3 trillion 53 billion US dollars. In September, it was equal to 3 trillion 87 billion US dollars.

Experts predicted a smaller decline – to the level of 3 trillion 58.5 billion US dollars.

Compared with October last year, the decline has amounted to 1.8%.

At the same time, the gold reserves of China have increased in comparison with the end of September – from 70 billion to 72 billion US dollars.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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