(Original title: State Administration of Foreign Exchange: At the end of July, my country’s foreign exchange reserves increased by 1.07% month-on-month to US$3,104.1 billion)
China Net Finance, August 8 News A few days ago, the website of the State Administration of Foreign Exchange announced the data on the scale of foreign exchange reserves in July 2022.
As of the end of July 2022, my country’s foreign exchange reserves were US$3,104.1 billion, an increase of US$32.8 billion or 1.07% from the end of June.
Wang Chunying, deputy director of the State Administration of Foreign Exchange and spokesperson, said that in July 2022, my country’s foreign exchange market will be generally stable, and domestic foreign exchange supply and demand will be basically balanced. In the international financial market, under the influence of major countries’ monetary policies, economic growth prospects and inflation expectations, the US dollar index rose, and the prices of major global financial assets rose in general. Due to the combined effect of exchange rate conversion and asset price changes, the scale of foreign exchange reserves increased in the month.
The current global economic situation is full of challenges, unstable and uncertain factors have increased significantly, and the international financial market is volatile. However, my country has effectively coordinated epidemic prevention and control and economic and social development. The economy has strong resilience, great potential, and sufficient vitality. The fundamentals of long-term improvement will not change, and it will continue to support the overall stability of the scale of foreign exchange reserves.