Report says China's reserves still rising fast
China's foreign exchange reserves continued to rise in August, a newspaper reported on Friday 30 September, suggesting further upward pressure on the yuan.
According to the China Business News, hot money is still flowing strongly into the economy as a bet on further currency appreciation, data indicated.
"China's foreign exchange reserves totalled $753.2 billion at the end of August, while the level was $732.4 billion at the end of July," the newspaper said, without citing sources.
The newspaper
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