China's Forex Reserves Down 1.7% to $3.26 Trillion in October, Missing Expectations

MT Newswires Live

2024/11/08

The scale of China's foreign exchange reserves edged down 1.67% month over month in October to $3.261, according to data from the State Administration of Foreign Exchange (SAFE) on Thursday.

The figure fell more than expected as analysts polled by Reuters predicted $3.29 trillion in forex reserves in October, versus $3.316 trillion in September.

SAFE attributed the drop to factors such as exchange rate conversions, and asset price changes.

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