China FX reserves end-July data now out 7 Aug
- gold reserves $75.084bln vs $73.585bln end-June
- gold reserves 59.24 mln fine troy oz as prev
First time reserves have climbed 6 months in a row since June 2014 suggesting less PBOC intervention having burned through $320bln to take total reserves below $3trln.
FX regulator SAFE says:
- reserves in July boosted by appreciation of non-USD currencies
- cross border flows remain stable
- reserves expected to remain stable in future
As Paul Hogan famously said in Crocodile Dundee, that's is an impressive amount of reserves compared to others.
