China's foreign exchange reserves in August rise to highest level since December 2015

China's foreign exchange reserves, the largest in the world, increased by $29.9 billion (0.9%) in August compared to the previous month, reaching $3.322 trillion, the People"s Bank of China said in a statement, Report informs via Interfax.

The statement noted that this is the highest volume since December 2015.

In August, the yuan appreciated by 0.9% against the US dollar. The US dollar index fell by 2.2% against a basket of major global currencies.

Gold reserves at the end of August stood at 74.02 million ounces, compared with 73.96 million ounces a month earlier. The Chinese central bank purchased the precious metal for the tenth consecutive month. In value terms, gold holdings reached $253.84 billion, up from $243.99 billion at the end of June.