China's Forex Reserves Rise to $3.2564 Trillion
Largest Increase in Seven Months
Reserves Up 1.06%, or $34 Billion, from June
China's foreign exchange reserves increased to $3.2564 trillion as of the end of July, up 1.06%, or $34 billion, from the previous month. This marks the largest monthly increase in seven months.
The rise in reserves was driven by a combination of factors, including a stronger yuan and increased inflows of foreign capital. The yuan has appreciated by about 1.5% against the US dollar since the end of June.
China's foreign exchange reserves are closely watched as a barometer of the country's economic health. The increase in reserves suggests that the Chinese economy is continuing to recover from the COVID-19 pandemic.
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