China’s Foreign Reserves Fall to 5-Year Low in September

China’s foreign exchange reserves decreased in September, according to government data released on Friday, as the dollar rose against other major currencies.

Last month, the country’s foreign exchange reserves dropped to $3.029 trillion from the end-of-August total of $3.055 trillion.

For the foreseeable future, China’s “current account will maintain a reasonable size surplus,” according to State Administration of Foreign Exchange spokesperson Wang Chunying.

In September, the yuan lost 3.2% of its value against the dollar, while the dollar gained almost the same amount against a basket of other major currencies.