China's foreign-exchange reserves in August fell $3.77 billion on month, official data showed on Tuesday, as capital flows into the bond market offset the impact of foreign exchange fluctuations.
The nation's foreign-exchange reserves--the world's largest--stood at $3.232 trillion at the end of August, down from $3.236 trillion at the end of July, according to the People's Bank of China. Economists polled by the Wall Street Journal expected reserves to be at $3.233 trillion.
The strong U.S. dollar and weak non-U.S. dollar currencies, together with changes in asset prices and other factors, led to a decline in the foreign exchange reserves in August, said Wang Chunying, deputy administrator and spokeswoman of the State Administration of Foreign Exchange.
The U.S. dollar rose 0.13% against the yuan last month. Meanwhile, the U.S. dollar index rose 0.6% in August, compared with a 0.29% fall in July, according to information provider Wind.
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(END) Dow Jones Newswires
09-07-21 0514ET
