China’s FX reserves unexpectedly rose in July
Total reserves stockpile increases by $5.82 billion as the central bank stays on the sidelines
China’s foreign exchange reserves unexpectedly rose in July for a second month running despite the country’s central bank not intervening in the FX market to defend the weakening yuan amid escalating trade tension.
Analysts had expected reserves to fall to the tune of $5–$12 billion, but instead they rose by $5.82 billion, or 0.19%, to a total of $3.18 trillion in July, according to figures from the People’s Bank of China published on August 7. July’s increase follows from June’s equally
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