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Oct. 6, 2022, 10:34 p.m. EDT

China's Forex Reserves Declined in September

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China's foreign-exchange reserves fell for a second straight month in September amid U.S. dollar strength.

The country's hoard of foreign exchange stood at $3.029 trillion at the end of September, down $25.9 billion from a month earlier, according to data released by the People's Bank of China on Friday.

Economists had expected China's forex reserves at $2.995 trillion at the end of September, given pressure from capital outflow via the stock market and the U.S. dollar strengthening against other major currencies, according to a poll by The Wall Street Journal.

Due to the combined effects of exchange-rate changes and a decline in global asset prices, forex reserves decreased in September, said Wang Chunying, deputy head of China's forex regulator, in a statement.

"The instability and uncertainty factors of the global economy have significantly increased, and fluctuations in the international financial markets have intensified," Ms. Wang added in the statement.

Write to Singapore Editors at singaporeeditors@dowjones.com

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