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China’s foreign exchange reserves declined in June as a strengthening U.S. dollar put pressure on the yuan. Reserves fell $9.68 billion to $3.222 trillion, or 0.3 percent, at the end of the month, the State Administration of Foreign Exchange said Sunday.
Exchange rate conversion And changes in asset prices contributed to the decline, the agency said.
Meanwhile, China’s central bank last month suspended gold purchases for a second consecutive month amid rising prices. The People’s Bank of China held 72.8 million troy ounces at the end of June, unchanged from the previous month.