China’s foreign exchange reserves reached about $3.28 trillion in August, their highest level since December 2015, the Asian country’s State Administration of Foreign Exchange (SAFE) reported on Saturday.
The increase from the final July figure was about $31.8 billionthe institution said on its website, attributing it to the fall in the dollar index and changes in exchange rates.
Chinese yuan gained 1.9% against dollar in Augustwhile the American currency weakened by 2.2% against a basket of other reference currencies.
Looking ahead, SAFE assures that the Chinese economy continues to perform well “sustained progress”This is why he expects that national foreign exchange reserves will maintain their “general stability”.
