China forex reserves rise to $3.204T in July

BEIJING  – China’s foreign exchange reserves rose more than expected in July, official data showed on Monday, as the dollar fell against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose $11.3 billion to $3.204 trillion last month, compared with $3.200 trillion tipped by a Reuters poll of analysts and $3.193 trillion in June.

The yuan rose 1.5 percent against the dollar in July, while the dollar last month fell 1 percent against a basket of other major currencies.

China held 68.69 million fine troy ounces of gold at the end of July, up from from 67.95 million ounces the end-June.

The value of China’s gold reserves rose to $135.36 billion at the end of July from $129.93 billion at end-June.