China FX reserves rise in October to US$3.5 trillion

[SHANGHAI] China's foreign exchange reserves, the world's largest, rose by US$11.5 billion in October to US$3.5255 trillion, central bank data showed on Saturday.

The value of China's gold reserves stood at US$63.261 billion at the end of October, up from US$61.2 billion at the end of September, the People's Bank of China said on its website.

China's International Monetary Fund (IMF) reserve position stood at US$4.638 billion, down from US$4.69 billion the previous month. It held US$10.36 billion of IMF Special Drawing Rights at the end of last month, down from US$10.47 billion at the end of September.

The central bank in July shifted to reporting its foreign exchange reserves on a monthly basis after adopting the IMF's Special Data Dissemination Standard (SDDS). The bank had previously released the data on a quarterly basis.

REUTERS