China’s FX reserves fall to a six-month low as PBOC keeps adding gold
📉 China’s foreign exchange reserves fell by about $38.1 billion, or 1.11%, in September to $3.4003 trillion. That marked the lowest level in six months, although reserves remained above $3.4 trillion for a sixth consecutive month.
🏦 SAFE said the decline was mainly driven by a stronger US dollar and changes in global asset prices, suggesting much of the move reflected valuation and currency translation effects rather than outright capital outflows.
🥇 Meanwhile, the PBOC added about 740,000 ounces of gold, equivalent to roughly 23 tonnes, lifting total holdings to around 2,410 tonnes. This marked the 23rd straight month of gold purchases, reinforcing the broader reserve-diversification trend even as gold prices weakened in September.
#China $DOGE $XAUT
📉 China’s foreign exchange reserves fell by about $38.1 billion, or 1.11%, in September to $3.4003 trillion. That marked the lowest level in six months, although reserves remained above $3.4 trillion for a sixth consecutive month.
🏦 SAFE said the decline was mainly driven by a stronger US dollar and changes in global asset prices, suggesting much of the move reflected valuation and currency translation effects rather than outright capital outflows.
🥇 Meanwhile, the PBOC added about 740,000 ounces of gold, equivalent to roughly 23 tonnes, lifting total holdings to around 2,410 tonnes. This marked the 23rd straight month of gold purchases, reinforcing the broader reserve-diversification trend even as gold prices weakened in September.
#China $DOGE $XAUT
