China's foreign exchange reserves at nearly 4-year low

By Tuba Sahin

ANKARA (AA) - China's foreign exchange reserves declined for the second month in a row in August to hit a nearly four-year low, according to data released on Wednesday by the country's central bank.

The foreign exchange reserves of the world's second-largest economy fell by $49.2 billion from July to $3.055 trillion.

The figure came in weaker than the market forecast of $3.079 trillion. It had been $3.05 trillion in October 2018.

Meanwhile, China's gold reserves dropped to $107.49 billion at the end of last month, down from $109.84 billion in July.