China Foreign Exchange Reserves Decline

2026-10-07 03:09 By Kyrie Dichosa 1 min. read

China’s foreign exchange reserves fell to $3.4 trillion at the end of September 2026, down $38.1 billion from a month earlier.

The State Administration of Foreign Exchange attributed the decline primarily to a stronger US dollar and surging US Treasury yields, which likely led to currency translation and asset valuation changes.

Meanwhile, the People’s Bank of China increased its gold holdings to 77.47 million fine troy ounces from 76.73 million ounces at the end of August, extending its gold-buying streak to 23 consecutive months.

SAFE said China’s economic fundamentals remain sound, supporting the basic stability of the country’s foreign exchange reserves.



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China Foreign Exchange Reserves Decline
China’s foreign exchange reserves fell to $3.4 trillion at the end of September 2026, down $38.1 billion from a month earlier. The State Administration of Foreign Exchange attributed the decline primarily to a stronger US dollar and surging US Treasury yields, which likely led to currency translation and asset valuation changes. Meanwhile, the People’s Bank of China increased its gold holdings to 77.47 million fine troy ounces from 76.73 million ounces at the end of August, extending its gold-buying streak to 23 consecutive months. SAFE said China’s economic fundamentals remain sound, supporting the basic stability of the country’s foreign exchange reserves.
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China’s FX Reserves Rise More than Expected
China’s foreign exchange reserves rose to $3.438 trillion in August 2026, up from $3.419 trillion a month earlier and above market expectations of $3.43 trillion. The increase came as the yuan strengthened 0.5% against the US dollar, while the greenback weakened 0.4% against a basket of major currencies. Meanwhile, the People’s Bank of China extended its gold-buying streak to a 22nd consecutive month, lifting its holdings to 76.73 million fine troy ounces from 76.08 million at the end of July. The value of China’s gold reserves rose to $350.08 billion at the end of August, from $306.35 billion a month earlier.
2026-09-07
China Foreign Exchange Reserves Expand
Official foreign exchange reserves kept by the People's Bank of China rose to an equivalent of $3.419 trillion in July of 2026 from $3.416 trillion in the previous month, aligned with market expectations and remaining relatively close to the record high of $3.442 trillion two weeks prior. The rise was aligned with a drop in the dollar during the last day of July, largely due to some dollar-asset selling by foreign institutions after the Fed decision and the joint Japan-US intervention to strengthen the yen. Meanwhile, gold reserves rose to 76.08 million troy ounces from 75.44 million in the previous month.
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