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.
