Beijing: China's foreign exchange reserves, the world's largest, shrank by $93.9 billion in August - the biggest monthly fall on record - to $3.557 trillion, central bank data showed on Monday.
The drop in foreign exchange reserves was widely anticipated as the central bank stepped up intervention to stabilise the yuan currency after a surprise devaluation last month.
The value of China's gold reserves stood at $61.8 billion at the end of August, up from $59.24 billion at the end of July, the People's Bank of China said on its website.
China's International Monetary Fund (IMF) reserve position stood at $4.73 billion, up from $4.37 billion the previous month. It held $10.53 billion of IMF Special Drawing Rights at the end of last month, up slightly from $10.46 billion at the end of July.
The central bank in July shifted to reporting its foreign exchange reserves on a monthly basis after adopting the IMF's Special Data Dissemination Standard (SDDS). The bank had previously released the data on a quarterly basis.
The drop in foreign exchange reserves was widely anticipated as the central bank stepped up intervention to stabilise the yuan currency after a surprise devaluation last month.
The value of China's gold reserves stood at $61.8 billion at the end of August, up from $59.24 billion at the end of July, the People's Bank of China said on its website.
China's International Monetary Fund (IMF) reserve position stood at $4.73 billion, up from $4.37 billion the previous month. It held $10.53 billion of IMF Special Drawing Rights at the end of last month, up slightly from $10.46 billion at the end of July.
The central bank in July shifted to reporting its foreign exchange reserves on a monthly basis after adopting the IMF's Special Data Dissemination Standard (SDDS). The bank had previously released the data on a quarterly basis.
© Thomson Reuters 2015
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