1st LD-Writethru: China’s forex reserves rise in October
BEIJING, Nov. 7 (Xinhua) — China’s foreign exchange reserves rose to 3.2176 trillion U.S. dollars at the end of October, up 17 billion U.S. dollars from a month earlier, official data showed Sunday.
The volume went up 0.53 percent from the end of September, said the State Administration of Foreign Exchange (SAFE).
Wang Chunying, deputy director and spokesperson of the SAFE, attributed the October increase in foreign exchange reserves to the combined impact of currency translation and changes in asset prices.
The dollar index fell slightly due to factors such as the resurgence of the COVID-19 pandemic and expectations for major countries’ fiscal and monetary policies, said Wang, adding that the currency translation and the change in asset prices led to the rise of China’s foreign exchange reserves.