China Foreign-Exchange Reserves Rose for Sixth Straight Month in July

Features Dow Jones Newswires

China's foreign-exchange reserves rose for a sixth straight month in July on the back of increased scrutiny of capital flows and a weaker U.S. dollar, official data showed Monday.

Continue Reading Below

Reserves rose by $23.93 billion from the previous month to $3.081 trillion, following a gain of $3.22 billion in June, figures from the People's Bank of China showed. Economists polled by The Wall Street Journal had expected a $15 billion gain in July.

Beijing has continued to tighten scrutiny on moving capital out of the country as it looks to support the yuan and limit falls in its stockpile of foreign exchange. China has the largest forex reserves in the world.

Write to Liyan Qi at liyan.qi@wsj.com

(END) Dow Jones Newswires

August 07, 2017 04:54 ET (08:54 GMT)