受全球金融资产价格上涨带动 9月外汇储备增加165亿美元

Core Insights - As of the end of September 2025, China's foreign exchange reserves reached 3,338.7 billion USD, an increase of 16.5 billion USD from the end of August, representing a growth rate of 0.5% [1] Group 1: Foreign Exchange Reserves - The increase in foreign exchange reserves is primarily driven by the rise in global financial asset prices [1] - The U.S. Federal Reserve's decision to restart interest rate cuts has contributed to a general rise in major global stock indices and a decline in U.S. Treasury yields, which in turn has boosted the valuation of China's foreign reserve investments [1] Group 2: Dollar Index and Asset Valuation - Despite the increase in reserves, the U.S. dollar index only fell by 0.03% compared to the end of August, indicating that the impact of previous significant dollar depreciation on the valuation of non-dollar assets in China's reserves has diminished in September [1] - This reduction in the impact of dollar depreciation is a key reason for the narrowing of the increase in foreign reserves compared to the previous month [1]