China's foreign exchange reserves surpass $3.3T in September

By Mucahithan Avcioglu

ISTANBUL (AA) - Foreign exchange reserves of China reached $3.338 trillion as of September this year, according to official data by the State Administration of Foreign Exchange released Tuesday.

The world's second-biggest economy increased its foreign currency reserves by 0.5% or by $16.5 billion in September, compared to the previous month.

In a statement, the administration noted that although the values of international financial assets generally rose in September, there were minor swings in the US dollar index.

It underlined that swap transactions and asset price fluctuations have a joint impact on the rise in foreign currency reserves.

The statement further noted that the stability of foreign exchange reserves was influenced by both economic stability and development advancement.