China's FX tops US$3.66 trillion

China's FX tops US$3.66 trillion

The foreign exchange (Forex) reserves of China went up to a record US$3.66 trillion in the third quarter of this year, after rising US$163.3 billion at the end of June, the largest rise since 2011, authorities said. The rise in reserves continued as China used massive forex purchases to hold down the value of its currency. According to the Wall Street Journal, a large chunk of China's forex reserves is in US Treasury bonds. China purchased US$45 billion of new reserves between April and June.

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