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08.08.2016 05:56

Gold reserves in China increased by 1.89% to $ 78.89 billion in July

China's foreign exchange reserves flat in July.

Today, the Administration of the People's Bank of China on currency transactions has published a report on foreign currency reserves, according to which, in July the volume of reserves reached $ 3.20 trillion from $ 3.21 trillion in June. The indicator contains data on the total amount of currency in the government accounts. It also takes into account the assets denominated in the currency and subject to conversion. Is an important indicator of the strength of the economy, as the reserves allow balanced international trade, and maintain the stability of the exchange rate.

The report also states that the amount of gold reserves in China last month increased by 1.89% to $ 78.89 billion.

Over the past decade, China's foreign exchange reserves have grown rapidly, with increased exports. However, in 2014 the volume of foreign exchange reserves began to decline as demand for Chinese goods fell against the backdrop of a slowdown in China's economy and the weakening of the global economic development.

08.08.2016 05:23

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