China’s foreign exchange reserves unexpectedly rose in October, official data showed yesterday, as the dollar rebounded against other major currencies.
The country’s foreign exchange reserves, the world’s largest, increased by $4.7 billion last month to $3.343 trillion, against a Reuters poll forecast of $3.327trn. The reserves totalled $3.339trn in September.
The yuan was almost unchanged against the dollar last month, while the dollar strengthened 1.96 per cent against a basket of other major currencies.
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