China's forex reserves up to highest level in almost a decade

China's foreign exchange reserves increased for the sixth month in-a-row in June, to the highest level in nearly a decade, while the country's official gold reserves rose for the eighth consecutive month, according to official data.

The country's foreign exchange reserves increased to $3.32 trillion as of the end of June, up 0.98 percent or $32.2 billion on the previous month, rising above the $3.3 trillion level for the first time since September last year, the State Administration of Foreign Exchange (SAFE) said on Monday.

The $3.32 trillion in reserves marked the highest level since December 2015, when the reading came in at $3.33 trillion, according to official data compiled by market tracker Wind Info.

SAFE said the country's foreign exchange reserves rose last month amid a declining US dollar index and rising global financial markets, with China's steady economic growth conducive to keeping foreign exchange reserves generally stable.

Meanwhile, China's official gold reserves came in at 73.9 million ounces at the end of June, up from 73.83 million ounces a month earlier, marking the eighth consecutive month of increase, according to SAFE.