China's foreign exchange reserves fall more than expected in September to 3.400 trillion dollars

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Summary · why it matters

Data released by the People's Bank of China on the 7th shows that foreign exchange reserves at the end of September stood at 3.4 trillion dollars, down from 3.438 trillion dollars the previous month. As the dollar strengthened, the decline exceeded the market forecast of 3.42 trillion dollars. The yuan rose 0.22 percent against the dollar in September, while the dollar rose 2.06 percent against a basket of major currencies.

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