The volume of China's foreign exchange reserves in September declined to $3.51 trillion

Almaty. October 7. Silkroadnews - In September, China's foreign exchange reserves fell by $43.3 billion to $3.51 trillion, their volume decreased for the fifth month in a row, reported the newspaper "Vedomosti".
The report of the People's Bank of China reported that the amount of gold reserves of China in September fell by $600 million to $ 61.2 billion.
"The decline in reserves caused by the intervention of central banks to stabilize the financial market, including the RMB exchange rate against other currencies after the change of RMB exchange rate formation mechanism", - said Professor of the Institute of International Relations of China Deng Lifan.
According to her, the largest intervention of the regulator was held in August and September.
As recalled by the newspaper on August 11, the People's Bank of China announced the decision "to optimize the methodology for calculating the "exchange rate, taking into account the positive balance of foreign trade in China, as well as strong position of the yuan against the currencies of other countries. Thereafter, the yuan within three days has fallen in price in the amount of 4.6%.