央行连续10个月增持黄金 外储规模创近十年新高

Core Insights - Gold has surpassed the euro to become the second-largest international reserve asset after the US dollar, with global gold reserves exceeding US Treasury holdings for the first time since 1996, excluding the US [1][5] - As of the end of August, China's foreign exchange reserves reached $332.22 billion, marking a 0.91% increase from the end of July and the highest level since January 2016 [2][3] - The People's Bank of China has increased its gold reserves for ten consecutive months, with a net addition of 60,000 ounces in August, raising the proportion of gold in foreign reserves to a historical high of 7.64% [4][5] Foreign Exchange Reserves - China's foreign exchange reserves have seen a significant increase, with a total of $332.22 billion as of August, up by $29.92 billion from July [2][3] - The rise in reserves is attributed to multiple factors, including a decline in the US dollar index and an increase in global asset prices, which positively impacted the valuation of non-dollar assets held by China [2][3] - The foreign exchange reserves increased by $119.8 billion compared to the end of the previous year, indicating a stable outlook for future reserves [3] Gold Reserves - As of the end of August, China's official gold reserves stood at 7.402 million ounces, with a total value of $253.8 billion, reflecting a $9.9 billion increase [4][5] - The increase in gold reserves is part of a broader strategy to optimize the structure of international reserve assets, with gold now being a significant component [4][5] - The pace of gold accumulation has slowed, with the central bank managing costs amid rising international gold prices, which increased by 3.9% in August [5] Renminbi Exchange Rate - The renminbi has shown a strong upward trend, with the exchange rate against the US dollar reaching a yearly low of 7.126 in late August [6] - The appreciation of the renminbi is driven by both external factors, such as a weakening US dollar index, and internal factors, including strong domestic equity market performance [6][7] - Analysts expect the renminbi to maintain a strong performance in the near term, with potential support from continued demand for currency exchange as the year-end approaches [7]