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Tags: China | Foreign-Exchange | Reserves

China Foreign-Exchange Reserves Jump to $2.65 Trillion

Wednesday, 13 October 2010 08:22 AM

China's foreign exchange reserves soared $194 billion in the July-September period to $2.648 trillion, the People's Bank of China said on Wednesday.

The reserves rose $84.6 billion in July, $8.9 billion in August and $100.5 billion in September.

Chinese banks extended 595.5 billion yuan in net new local-currency loans in September, compared with August's 545 billion yuan, the central bank said on its website, www.pbc.gov.cn.

Yuan loans outstanding at the end of September were 18.5 percent higher than a year earlier.

Annual growth in China's broad M2 measure of money supply quickened to 19.0 percent in September from 18.6 percent in August.

The median forecast of economists was for foreign exchange reserves to climb $40.7 billion in the third quarter; issuance of 500 billion yuan in loans in September; and an 18.3 percent rise in M2 last month.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
China's foreign exchange reserves soared $194 billion in the July-September period to $2.648 trillion, the People's Bank of China said on Wednesday. The reserves rose $84.6 billion in July, $8.9 billion in August and $100.5 billion in September. Chinese banks extended...
China,Foreign-Exchange,Reserves
138
2010-22-13
Wednesday, 13 October 2010 08:22 AM
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