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China's Sept forex reserves falls to $3 trillion

China's Sept forex reserves falls to $3 trillion
Arrangement of various world currencies including Chinese Yuan, US Dollar, Euro, British Pound, shot January 25, 2011. REUTERS/Kacper Pempel/Illustration/File Photo -
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Kacper Pempel(Reuters)
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BEIJING (Reuters) – China’s foreign exchange reserves fell 12 billion pounds in September to $3.092 trillion compared to last month’s $3.1072 trillion, official data showed on Sunday.

Economists polled by Reuters had expected the country’s reserves, the world’s largest, would fall by $6 billion to $3.101 trillion, likely due to fluctuations in global exchange rates and in the prices of foreign bonds that China holds.

China has been able to keep capital outflows under control over the past year despite an escalating trade war with the United States and weakening economic growth at home. [CNY/]

In September, the yuan <CNY=CFXS> rose 0.14% against the dollar after posting its biggest monthly drop in 25 years in August.

The value of China’s gold reserves fell to $93.045 billion at the end of September from $95.45 billion at the end of August, according to central bank data.

(Reporting by Huizhong Wu, Hallie Gu and Judy Hua; Editing by Toby Chopra)

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