China FX reserves rise to highest level since 2015 in August
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FILE PHOTO: U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
BEIJING/SHANGHAI (Reuters) - China's foreign exchange reserves rose to the highest level in more than 8-1/2 years in August, official data showed on Saturday, thanks largely to a broadly weaker U.S. dollar.
The country's foreign exchange reserves - the world'slargest - grew by $31.8 billion to $3.288 trillion lastmonth, booking the second straight monthly expansion and hitting the highest since December 2015.
But it slightly missed a $3.289 trillion forecast in a Reuters poll of analysts.
The yuan gained 1.9% against the dollar inAugust, while the dollar last month weakened 2.2% against a basket of other major currencies.
(Reporting by Qiaoyi Li, Winni Zhou and Ryan Woo' Editing by Sam Holmes)
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