October 7, The People's Bank of China released the scale of foreign exchange reserves, as of the end of September, the size of our foreign exchange reserves of $3.087 trillion, compared with the end of August fell 22.7 billion U.S. dollars, down 0.7%. "valuation changes are the main reason for the decline in foreign exchange reserves in September.
Tao guan, A senior researcher at the China Finance 40 forum, said that the Fed's interest rate hike in September, the rise in US bond yields and the fall in the prices of major national bonds led to a fall in the price of foreign bonds held in china, resulting in loss of book Value.
Wang Chunying, A spokesman for the State administration of foreign exchange, said that from the international financial market, the September dollar index and the end of August basically flat, the main non-dollar currency exchange rate has been up and down, in exchange rate conversion and asset price changes and other factors combined, the size of the reserves declined slightly. Tao Guan that although the fed's interest rate hike fell in September, the market parties had fully anticipated, so the impact on the RMB exchange rate is limited, The dollar index after a small shock rate hike, the renminbi exchange rate volatility is not small.
The central bank is to make up for the liquidity gap in the banking system, optimize the liquidity structure, money is not relaxed, the market interest rate is stable, and will not cause interest rates significantly lower, the impact on the renminbi exchange rate is Limited. "in the future, China's Cross-border Capital flows and foreign exchange reserves are expected to remain basically stable.
Wing kin, chief financial analyst at Bank of Communications Finance Research center, said the current 10-year U.S. debt rate is already above 3%, the likelihood of a high volatility in the future, the renminbi despite the devaluation of pressure but not a significant devaluation. Wang Chunying that the outlook for the future, although the external environment is still facing greater uncertainty, but China's economy has strong adaptability and the ability to withstand external risks, solid fundamentals will continue to provide a solid foundation for the smooth operation of the foreign exchange Market. At home and abroad, the scale of China's foreign exchange reserves is expected to remain stable in Fluctuation.