China’s FX reserves unexpectedly rose in July

Total reserves stockpile increases by $5.82 billion as the central bank stays on the sidelines

renminbi-notes
The People's Bank of China is reinstating non-traditional measures to stabilise the country's currency

China’s foreign exchange reserves unexpectedly rose in July for a second month running despite the country’s central bank not intervening in the FX market to defend the weakening yuan amid escalating trade tension. 

Analysts had expected reserves to fall to the tune of $5–$12 billion, but instead they rose by $5.82 billion, or 0.19%, to a total of $3.18 trillion in July, according to figures from the People’s Bank of China published on August 7. July’s increase follows from June’s equally unexp

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