China’s Forex Reserves hit 2.27 Trillion Record

China’s Central Bank has announced a new record of foreign exchange reserves of $2.27 trillion.

China’s foreign exchange reserve hit a new high of 2.27 trillion U.S. dollars by the end of September, up 19.26 percent year on year, the People’s Bank of China, the central bank, said Wednesday.

In the first three quarters, China’s foreign exchange reserve increased 326.6 billion U.S. dollars, and the increase was 50.7 billion less than the same period last year, the bank said.

China’s foreign exchange reserve added by 43 billion in July, 36.2 billion in August and 61.8 billion U.S. dollars in September.

At the end of June, China’s foreign exchange reserve surpassed 2 trillion U.S. dollars for the first time by 131.6 billion.

Xinhua

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza