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China’s forex reserves unexpectedly rose in August despite yuan’s drop

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

China’s foreign exchange reserves rose unexpectedly in August, even as the yuan recorded its biggest monthly depreciation in 25 years amid a prolonged trade war with the US.

The foreign exchange reserves rose by $3.5 billion in August to $3.1072 trillion, the data released by the People's Bank of China on Saturday. That beats the expectation of a $4 billion drop from July to $3.1 trillion in a Reuters poll.

The country's foreign exchange . . .

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