• China's foreign-exchange reserves rose in October

Market news

7 November 2019

China's foreign-exchange reserves rose in October

Official data showed that China's foreign-exchange reserves rose last month amid yuan's rebound against the U.S. dollar.

The country's hoard of foreign exchange increased $12.73 billion on month to $3.105 trillion in October, according to data released by the People's Bank of China, compared with a consensus forecast of an increase of $21 billion.

The rise in October was due to valuation effects from a weaker dollar against a basket of currencies and asset price changes as bond prices in major economies dropped, the State Administration of Foreign Exchange said.

The country's cross-border capital flows have been steady despite rising risks from the global market, the regulator said.

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