China FX Reserves Beat August Forecasts
China foreign exchange reserves rose more than expected to 3.438 trillion dollars in August as the US dollar weakened. The yuan gained 0.49 percent against the greenback during the month.
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China's foreign exchange reserves rose to $3.438 trillion in August, beating forecasts as the greenback weakened. The total topped the $3.425 trillion median estimate in a Reuters poll and rose from $3.419 trillion in July. The world's largest reserve holdings expanded as broad dollar weakness provided a tailwind for non-dollar assets.
