Economic Daily, Beijing, October 7 (Reporter Yao Jin) According to data released by the State Administration of Foreign Exchange on the 7th, as of the end of September, my country’s foreign exchange reserves were US$3,206 billion, a decrease of US$31.5 billion or 0.97% from the end of August. So far, the scale of foreign exchange reserves has been above US$3.2 trillion for five consecutive months, and has remained stable overall.
In September, my country’s foreign exchange market operated smoothly, and foreign exchange transactions were rational and orderly. Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said that in the international financial market, affected by factors such as the new crown pneumonia epidemic and major countries’ monetary policy expectations, the US dollar index has risen and the prices of major countries’ financial assets have generally fallen. Foreign exchange reserves are denominated in U.S. dollars, and the amount of non-U.S. currencies converted into U.S. dollars decreases. Together with changes in asset prices and other factors, the scale of foreign exchange reserves decreased during the month.
“my country’s economic fundamentals continue to improve and have a long-term stable basis. The reduction in foreign exchange reserves in September was mainly caused by valuation factors.” Wen Bin, chief researcher of China Minsheng Bank, said that my country’s economy will continue to continue its steady and positive recovery. In view of the situation, macroeconomic policies should strengthen cross-cycle control, and the scale of foreign exchange reserves in the next stage has the basis for maintaining stability. At the same time, we must be prepared to deal with various risk shocks.Return to Sohu to see more
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