汇率方面，9月，美元指数收平于月初的97.8，前期市场对美联储降息已有充分定价，美元阶段性下跌 压力基本释放。非美货币相对疲弱对美元亦有支撑，日元、英镑兑美元分别下跌1.1%、0.5%。 另在资产价格方面，温彬称，以美元标价的已对冲全球债券指数上涨0.7%，美股延续强势上涨，9月美 国标普500指数上涨3.5%。美联储降息向全球释放流动性，主要经济体股市保持高景气，日经指数上涨 5.4%，欧洲斯托克指数上涨1.2%，股债双强对外储形成支撑。 黄金储备上，据人民银行官网发布的最新官方储备资产数据，截至9月末，中国官方黄金储备为7406万 盎司（约2303.523吨），较上月末增加4万盎司（约1.24吨）。目前，人民银行已连续11个月增持黄金。 国家金融与发展实验室特聘高级研究员庞溟指出，从短期来看，9月金价累计涨幅超过10%，创14年最 大月度涨幅。人民银行连续11个月增持黄金，但增持规模略低于近几个月环比增加6万到7万盎司的水 平，显示出人民银行继续在优化储备结构、扩大黄金储备规模和控制增持成本等目标间取得动态平衡， 以更好地进行投资组合流动性管理、规避地缘政治不确定性和市场风险、对冲其他类别金融资产波动 性 ...

10月7日，国家外汇管理局披露，截至2025年9月末，我国外汇储备规模为33387亿美元，较8月末上升 165亿美元，升幅为0.5%。 对此，民生银行首席经济学家温彬解读称，9月份，受就业数据疲软影响，美联储如期降息25个基点， 联邦基金利率目标区间下调至4.00%~4.25%，全球资产价格整体上涨，美元则低位震荡。受资产价格变 化与汇率波动综合影响，9月末外储环比上涨165亿美元。进一步看，9月末外汇储备已创2015年12月以 来最高，较上年末也大幅增加1363亿美元。 此外，最新数据显示，9月末黄金储备为7406万盎司，官方黄金储备已连续11个月增加。东方金诚首席 宏观分析师王青指出，近期央行继续增持黄金，主要原因是美国特朗普政府上台后，全球政治、经济形 势出现新变化，国际金价有可能在相当长一段时间内易涨难跌。这意味着从控制成本角度出发暂停增持 黄金的必要性下降，而从优化国际储备结构角度增持黄金的需求上升。 年内外储升1363亿美元 国家外汇管理局表示，2025年9月，受主要经济体宏观经济数据、货币政策及预期等因素影响，美元指 数小幅震荡，全球金融资产价格总体上涨。汇率折算和资产价格变化等因素综合作用，当 ...

2025年9月，受主要经济体宏观经济数据、货币政策及预期等因素影响，美元指数小幅震荡，全球金融 资产价格总体上涨。汇率折算和资产价格变化等因素综合作用，当月外汇储备规模上升。我国经济保持 总体平稳、稳中有进，高质量发展取得新成效，有利于外汇储备规模保持基本稳定。 央广网北京10月7日消息（记者 宓迪）国家外汇管理局统计数据显示，截至2025年9月末，我国外汇储 备规模为33387亿美元，较8月末上升165亿美元，升幅为0.5%。 ...

Core Insights - As of the end of August 2025, China's foreign exchange reserves reached 33,222 billion USD, an increase of 29.9 billion USD from the end of July, representing a growth rate of 0.91% [1][4]. Group 1 - The increase in foreign exchange reserves is attributed to a combination of exchange rate adjustments and changes in asset prices [7]. - The stable performance of China's economy demonstrates strong resilience and vitality, which supports the maintenance of foreign exchange reserves at a stable level [1].

微信编辑 | 七三 第一财经持续追踪财经热点。若您掌握公司动态、行业趋势、金融事件等有价值的线索，欢迎提供。 专用邮箱： bianjibu@yicai.com 本文字数：309，阅读时长大约1分钟 国家外汇管理局统计数据显示，截至2025年8月末，我国外汇储备规模为33222亿美元，较7月末上升299亿美元，升幅为0.91%。 2025年8月，受主要经济体货币政策预期、宏观经济数据等因素影响，美元指数下跌，全球金融资产价格总体上涨。汇率折算和资产价格变化等因素 综合作用，当月外汇储备规模上升。我国经济运行稳中有进，展现出强大韧性和活力，为外汇储备规模保持基本稳定提供支撑。 来源： 外汇局官网 山寨车鼻祖，上半年只卖了14辆车 2025.09. 07 Z] 公泰运车 (Z ● NNIT = = Mkir No. of the Research of the state 0 e 12 Stage Cities 星座子 2 I and and the A 27 li L （注：我们会对线索进行核实。您的隐私将严格保密。） 推荐阅读 ...

钛媒体App 9月7日消息，国家外汇管理局统计数据显示，截至2025年8月末，中国外汇储备规模为33222 亿美元，较7月末上升299亿美元，升幅为0.91%。2025年8月，受主要经济体货币政策预期、宏观经济 数据等因素影响，美元指数下跌，全球金融资产价格总体上涨。汇率折算和资产价格变化等因素综合作 用，当月外汇储备规模上升。中国经济运行稳中有进，展现出强大韧性和活力，为外汇储备规模保持基 本稳定提供支撑。（国家外汇局网站） ...

Group 1 - As of the end of June, China's foreign exchange reserves reached $33,174 billion, an increase of $322 billion from the end of May, marking a rise of 0.98% [2] - The increase in foreign exchange reserves is attributed to the depreciation of the US dollar, which fell by 2.5% to a three-year low of 96.9, leading to a collective appreciation of non-USD currencies [2][3] - The rise in global financial asset prices, including a 1.0% increase in the USD-denominated global bond index and a 5.0% rise in the S&P 500 index, also supported the increase in foreign reserves [2][3] Group 2 - Analysts believe that the significant depreciation of the US dollar has enhanced the valuation of non-USD assets within China's foreign reserves, contributing to the larger increase in reserves for June [3] - The current level of foreign reserves is considered to be at a moderately sufficient level, providing support for maintaining the RMB exchange rate and acting as a buffer against external shocks [3] - China's economy is expected to continue its steady growth, and resilient foreign trade is likely to help maintain the stability of foreign exchange reserves [3] Group 3 - As of the end of June, China's gold reserves amounted to 7.39 million ounces, an increase of 70,000 ounces from the end of May, indicating a continued strategy of increasing gold holdings [4] - The importance of gold as a widely recognized ultimate payment method is increasing, especially in the context of rising geopolitical risks and the diminishing reliability of traditional safe-haven assets like the US dollar [4] - Gold is viewed as a non-sovereign credit reserve asset that can effectively hedge against single currency risks and optimize the structure of foreign exchange reserves [4]

Core Insights - As of July 2025, China's foreign exchange reserves stood at $32,922 billion, a decrease of $252 billion from the end of June, with gold reserves at 73.96 million ounces [1] - The increase in the US dollar index in July, influenced by macroeconomic data and monetary policy expectations, led to fluctuations in global financial asset prices, impacting the valuation of China's foreign exchange reserves [1] - The People's Bank of China has increased its gold holdings for the ninth consecutive month, maintaining a steady pace of gold accumulation [1] Economic Context - The National Foreign Exchange Administration believes that China's economic fundamentals remain strong, with advantages and resilience that support the stability of foreign exchange reserves [2] - The ongoing uncertainty in global trade and geopolitical factors is expected to drive central banks and investors to continue increasing their gold investments, providing ongoing support for gold prices [1]

Core Viewpoint - As of the end of July, China's foreign exchange reserves stood at $32,922 billion, reflecting a decrease of $25.2 billion or 0.76% from the end of June [1] Group 1: Foreign Exchange Reserves - The decline in foreign exchange reserves is attributed to factors such as macroeconomic data, monetary policy, and expectations from major economies, leading to fluctuations in global financial asset prices [1] - The State Administration of Foreign Exchange indicated that despite the decrease, the long-term supportive conditions and fundamental trends for maintaining foreign exchange reserves remain unchanged due to China's strong economic foundation, advantages, resilience, and potential [1]

Foreign Exchange Reserves - As of July 2025, China's foreign exchange reserves stood at $32,922 billion, a decrease of $252 billion from June, marking a decline of 0.76% [1] - The decline in reserves is attributed to the rise in the US dollar index and fluctuations in global financial asset prices, with the dollar index increasing by 3.2% to 100.0, the highest since late May [3][4] - Despite the decrease, China's foreign exchange reserves remain above $3.2 trillion, providing a solid foundation for maintaining the RMB exchange rate at a reasonable equilibrium [3][4] Gold Reserves - The People's Bank of China has increased its gold reserves for the ninth consecutive month, reaching 7,396 million ounces (approximately 2,300.41 tons), with a month-on-month increase of 6,000 ounces [2][6] - The total value of gold reserves rose by $10 billion to $243.985 billion, representing 7.41% of the total foreign exchange reserves, which is still below the global average of around 15% [2][6] - The increase in gold reserves is driven by the need to optimize international reserve structure and enhance the credibility of the sovereign currency, especially in light of geopolitical uncertainties and the weakening confidence in the dollar system [6][7] Economic Outlook - The macroeconomic policies in China are prepared to adapt flexibly to ongoing risks and challenges, with a focus on maintaining stable economic growth supported by proactive fiscal and monetary policies [5] - The central bank's strategy includes a steady increase in gold reserves while managing costs and diversifying international reserves to mitigate market risks and geopolitical uncertainties [7][8] - A recent survey indicated that over 90% of central banks expect to increase their gold holdings in the next 12 months, reflecting a growing trend towards gold as a safe-haven asset [8]