China's forex reserves rise to $3.4383 trillion at end of August

(ECNS) -- China's foreign exchange reserves stood at $3.4383 trillion at the end of August, up $19.5 billion, or 0.57%, from the end of July, according to data released by the State Administration of Foreign Exchange.

In August, the U.S. dollar index fell amid shifts in global macroeconomic data and market expectations for monetary policy in major economies, while prices of major financial assets showed mixed performance. The combined effects of currency translation and changes in asset prices contributed to the increase in the month's reserves.

China's economy has remained stable while making steady progress, demonstrating strong resilience and vitality, helping to keep foreign exchange reserves broadly stable, the administration said.