China's Foreign Exchange Reserve in July 31.37 billion US Dollars

China's foreign exchange reserves in July were $3103.7 billion, down 15.5 billion from last month, ending two consecutive months of growth. The latest data released by the Central Bank show that China's foreign exchange reserves in July were $310.7 billion, a decrease of $15.5 billion from last month, ending two consecutive months of growth.

China's gold reserves at the end of July were 62.26 million ounces, an increase of 320,000 ounces annually, representing the eighth consecutive month for the central bank to increase its gold reserves.

According to Interface News, analysts believe that exchange rate conversion and other factors are the main reasons for the decline in the size of foreign reserves. In July, the dollar index rose by 2.46% to above 98, driven by a sharp fall in the euro and sterling and the vague attitude of the Federal Reserve towards subsequent monetary policy.