China's Forex Reserves Hit $3.2882 Trillion, Highest Since 2015 in August

Sep 7, 2024, 02:35 AM

China's foreign exchange reserves have ranked first globally for 19 consecutive years, consistently maintaining above $3 trillion in recent years, according to data from the State Administration of Foreign Exchange. As of the end of August, China's forex reserves totaled $3.2882 trillion, up by $31.8 billion, or 0.98 percent compared to the end of July. This marks the highest level since 2015. The rise in reserves is attributed to the weakening of the U.S. dollar. Additionally, the value of bonds held by foreign investors in China reached a record 4.5 trillion yuan ($634.44 billion) as of the end of July, as reported by the People's Bank of China.