China’s Forex Reserves Rose $10.64 Billion in June
China’s foreign-exchange reserves rose in June for a third straight month amid a weakening dollar and eased outflow pressure, official data showed Tuesday.
The country’s hoard of foreign exchange increased by $10.64 billion to $3.112 trillion at the end of June, according to data released by the People’s Bank of China.
Economists polled by The Wall Street Journal had expected an $18 billion rise in reserves in June. In May, China’s foreign-exchange reserves increased by $10.23 billion.
The U.S. dollar dropped 1.00% against the Chinese yuan last month. Meanwhile, the U.S. dollar index dropped 0.89% in June, compared with a 0.76% fall in May, according to information provider Wind.
Source: Dow Jones