MNI BRIEF: China's Forex Reserves Down USD25.2 Billion In July

China's foreign exchange reserves fell by USD25.2 billion in July, weighed by a rising U.S. dollar index rose and global financial asset price fluctuations, data by the State Administration of Foreign Exchange showed on Thursday.

The country's forex reserves, the world's largest, declined by 0.76% to USD3.292 trillion last month, slightly higher than market expectation of USD3.281 trillion. (See MNI INTERVIEW: PBOC Should Be Flexible, Let Yuan Strengthen-Yu)

The People’s Bank of China increased gold holdings for a ninth consecutive month to 73.96 million ounces by the end of July, compared to the previous 73.9 million ounces.