Core Insights - As of October 2025, China's foreign exchange reserves reached $3.34 trillion, an increase of $4.7 billion from September, reflecting a growth rate of 0.14% [1] - The rise in foreign exchange reserves is attributed to the Federal Reserve's interest rate cut, improved China-U.S. trade relations, and overall global asset price increases [1][2] - The U.S. dollar index rose by 2.1% to 99.8 in October, despite the Fed's rate cut, due to stronger-than-expected U.S. economic growth and depreciation of non-U.S. currencies [1] Foreign Exchange Reserves - The increase in foreign exchange reserves is influenced by a combination of asset price changes and exchange rate fluctuations, with a notable rise of $4.7 billion in October [1] - The Federal Reserve's decision to lower the federal funds rate by 25 basis points to a target range of 3.75% to 4.00% has contributed to this increase [1][2] Asset Prices - In October, the Fed's rate cut led to a 0.8% increase in the dollar-denominated global bond index and a 2.3% rise in the S&P 500 index [2] - The Nikkei index surged by 16.6%, reaching a historical high, driven by new fiscal policies under the leadership of a new prime minister [2] - The European Stoxx index rose by 2.6% as the Eurozone economy showed signs of gradual recovery [2] Gold Reserves - As of the end of October, China's gold reserves increased by 30,000 ounces (approximately 0.93 tons) to 74.09 million ounces, marking the 12th consecutive month of gold accumulation [2] - The global demand for gold among central banks remains high, with gold surpassing the euro as the second-largest reserve asset [2][3] - Increasing gold reserves helps optimize China's foreign exchange reserve structure and mitigate risks associated with high dollar asset exposure [3]
10月外汇储备增加47亿美元 温彬：受资产价格变化与汇率波动综合影响
Sou Hu Cai Jing·2025-11-07 10:47