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China's forex reserves down slightly in July

Xinhua, August 7, 2016 Adjust font size:

China's foreign exchange reserves dropped to 3.201 trillion U.S. dollars at the end of July, down from June's 3.205 trillion, the People's Bank of China, the central bank, said on Monday.

The data was basically in line with market expectations after an unexpected rise surprised investors in June.

China began to see a falling trend in its forex reserves in November 2015 due to concerns over a weak yuan and capital outflow, but the reserves returned to growth in March as fears eased amid signs of stabilizing economic growth. Endi