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due to the combined effects of exchange rate conversion and asset price changes, my country's foreign exchange reserves continued to rise in august, rising for the second consecutive month, but the month-on-month increase declined. the people's bank of china has stopped increasing its gold holdings for the fourth consecutive month.

on september 7, statistics from the state administration of foreign exchange showed that as of the end of august 2024, my country's foreign exchange reserves were us$3,288.215 billion, an increase of us$31.843 billion from us$3,256.372 billion at the end of july, an increase of 0.98%, and the month-on-month growth rate declined.this is the eighth consecutive month that my country's foreign exchange reserves have remained above the 3.2 trillion us dollar mark.

the state administration of foreign exchange said that in august 2024, the us dollar index fell and global financial asset prices generally rose due to factors such as macroeconomic data and monetary policy expectations of major economies. due to the combined effects of factors such as exchange rate conversion and asset price changes, the scale of foreign exchange reserves increased that month. my country's stable economic operation and long-term positive development trend will not change, providing support for the continued basic stability of the scale of foreign exchange reserves.

central bank halts gold purchases for fourth month in a row

china's gold reserves were reported at 72.8 million ounces at the end of august, the same as the previous month. this is the fourth consecutive month that the people's bank of china has suspended its gold holdings.

on the evening of september 6, the world gold council released a report stating that in august, global gold etfs achieved inflows for the fourth consecutive month. in asia, china's gold etfs experienced a net outflow, ending its eight-month streak of net inflows.

the world gold council said that overall, global gold market transactions remain active, with the average daily transaction volume reaching us$241 billion, down 3.2% from the previous month.