BEIJING, Aug 7 (Reuters) – China’s foreign exchange reserves rose more than expected in July, official data showed on Saturday, likely due to changes in the value of currencies and global assets that it holds.
The country’s foreign exchange reserves – the world’s largest – rose by $21.88 billion to $3.236 trillion last month, compared with $3.217 trillion tipped by a Reuters poll of analysts and $3.214 trillion in June.
Foreign inflows into Chinese stocks and bonds have been strong as China led other major economies in its recovery from the coronavirus pandemic, lifting reserves back to levels last seen in 2016. But widening regulatory crackdowns in recent months has revived worries about the risks of investing in China.
The yuan fell 0.06% against the dollar in July, while the dollar fell 0.3% in July against a basket of other major currencies.
China held 62.64 million fine troy ounces of gold at the end of July, from 62.64 million ounces at the end-June.
The value of China’s gold reserves rose to $114.37 billion at the end of July from $110.45 billion at the end-June.
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