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China's FX reserves post surprise gain, withstand June market chaos

Reuters  |  BEIJING 

By Yawen Chen and Kevin YaoBEIJING (Reuters) - China's foreign exchange reserves unexpectedly rose in June, bolstered by an increase in the value of its U.S. Treasury holdings in an otherwise volatile month for Chinese markets, which were battered by fears about a Sino-U.S. trade war.Reserves rose $1.51 billion in June to $3.112 trillion, compared with a drop of $14.23 billion in May, central bank data showed on Monday. Economists polled by Reuters had expected reserves to drop by $10.6 billion to $3.10 trillion.China's State Administration of Foreign Exchange (SAFE) said in a statement the ...

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First Published: Mon, July 09 2018. 11:10 IST