According to the report from the People's Bank of China (PBoC), China's foreign exchange reserves (the world's largest) rose moderately in September, exceeding economists' forecasts and reaching the highest level since December 2015, as the U.S. dollar index declined, and global financial asset prices generally increased.
The PBoC said foreign exchange reserves rose to $3.316 trillion from $3.288 trillion in August. Economists had expected an increase to $3.30 trillion. The combined effects of currency translation and asset price changes led to the increase in reserves in September.
The US dollar index fell by 0.90% in September, while the yuan fell by 1.02% against the US currency.
The data also showed that China held 72.80 million fine troy ounces of gold (unchanged from August). Meanwhile, the value of gold reserves increased by $8.49 billion to $191.47 billion.