Tuesday, June 6

China’s July forex reserves rise to $3.104 trln

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BEIJING, Aug 7 – China’s foreign exchange reserves unexpectedly rose in July, official data showed on Sunday.

The country’s foreign exchange reserves – the world’s largest – rose $32.8 billion to $3.104 trillion last month, compared with $3.05 trillion tipped by a Reuters poll of analysts and $3.071 trillion in June.

The yuan fell 0.64% against the dollar in July, while the dollar rose 1.07% against a basket of other major currencies.

China held 62.64 million fine troy ounces of gold at the end of July, unchanged from end-June.

The value of its gold reserves fell to $109.84 billion at the end of July from $113.82 billion at end-June.

(Reporting by Judy Hua, Ellen Zhang and Ryan Woo; Editnig by Kim Coghill)