Chinese FX reserves fall $93.9bn in August

Author: Ryan Littlestone | Category: News

Latest forex reserve data from China

China's reserves fell over double what they did in July to $3.56tn vs $3.65tn prior,the largest drop on record

  •  SDR reserves 10.53bn vs 10.46bn prior
  • Gold reserves 61.8bn vs 59.24bn prior
  • IMF reserves 4.73bn vs 4.37bn prior

A fall had been expected on the back of China selling USD's to prop up the Yuan. Intervention was expected to be anywhere from $122-170bn in August but that's likely to be lower now we've had the reserve numbers. China ahs also been sellers of their treasury holdings to balance some of the move

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