随着全球股市波动加剧，美元自9月以来持续上涨，导致非美货币尤其是部分亚洲货币普遍走弱，这令 部分亚洲央行是否会干预汇市，再度成为了全球市场上的一大焦点。 在这轮非美货币的贬值浪潮中，日韩货币颇为显眼地被"卷上了潮头"。其中，美元兑日元汇率隔夜已一 路升破了157关口，刷新了今年1月以来的新高。在高市早苗政府提出推行激进财政支出政策的背景下， 市场对日本财政恶化的警惕引发了抛售日元的压力。 日元的疲软在其与欧元走势的对比中尤为凸显——欧元兑日元在周三一路升破180大关后，周四进一步 触及181.44的高位，这是自1999年欧元诞生以来的最高纪录水平。从反映日元兑多种货币实力的名义有 效汇率的日元指数来看，日元9月底以来的跌幅已达到3%，在G10货币中跌幅最大。 随着日元兑美元汇率跌至10个月低点，日本财务大臣片山皋月周三进一步加强了对日元贬值的警告力 度。她已向日本央行行长植田和男及增长战略大臣城内实确认了监测市场走势的必要性。 "我们确认，三人将竭尽全力管理政策，以实现稳定的通胀和可持续的经济增长，我们还重申，将以高 度紧迫感监测市场动态，并与市场保持密切沟通。" 受美国对印度出口产品征收50%关税及本土股市 ...

以下文章来源于21世纪经济报道 ，作者21记者 21世纪经济报道 . 权威、专业、深度、有趣！用经济思维看世界。 互联网新闻信息服务许可证编号：44120180007 来源|21世纪经济报道 记者|唐婧 编辑|包芳鸣 11月7日，国家外汇管理局统计数据显示，截至2025年10月末，我国外汇储备规模为33433亿美元，较9月末上升47亿美元，升幅为 0.14%。 这是我国外汇储备连续三月站上3.3万亿美元大关，创2015年12月以来最高。 黄金储备方面，央行连续第12个月增持黄金。同日，央 行公布的数据显示，10月末黄金储备报7409万盎司（约2304.457吨），环比增加3万盎司（约0.93吨）。 | | 中国外汇储备(亿美元) | 中国黄金储备(万盎司) | | | --- | --- | --- | --- | | 34000.00 | | 7420 | 7409 | | | 33433.43 | 7410 | | | 33500.00 | | 7400 | | | | | 7390 | | | 33000.00 | | 7380 | | | 32500.00 | | 7370 | | | | | 736 ...

Core Insights - As of the end of October 2025, China's foreign exchange reserves reached $33,433 billion, marking an increase of $4.7 billion from the end of September, the highest level since December 2015 [1] - The People's Bank of China (PBOC) has increased its gold reserves for the 12th consecutive month, with gold reserves reported at 7.409 million ounces (approximately 2304.457 tons) as of the end of October, an increase of 30,000 ounces [1][5] - The rise in foreign exchange reserves is attributed to the combined effects of currency exchange rate fluctuations and asset price changes, with a notable increase in global financial asset prices [2][3] Foreign Exchange Reserves - The increase in foreign exchange reserves is primarily driven by the valuation effects from changes in exchange rates and asset prices, with the dollar index rising by 1.9% in October [2][3] - Despite the dollar's strength, global stock indices, particularly the Nikkei 225, saw significant gains, which helped offset the potential decline in reserves due to non-dollar asset depreciation [2][3] - The PBOC's statement emphasizes the stability of China's economic fundamentals, which supports the maintenance of foreign exchange reserves [1][4] Gold Reserves - China's gold reserves increased by $13.9 billion to $297.2 billion, with the proportion of gold reserves to total foreign exchange reserves rising to 8.89%, a historical high [6] - The pace of gold accumulation by the PBOC has slowed this year, with monthly increases decreasing from 160,000 ounces in January to 30,000 ounces in October [6] - The global trend of central banks increasing gold holdings is noted, with a total net purchase of 220 tons in Q3 2025, reflecting a 28% increase from Q2 [7] Future Outlook - Analysts suggest that the PBOC will continue to increase gold reserves to optimize the international reserve structure and support the internationalization of the renminbi [8] - The current gold holdings in China's international reserves are significantly below the global average of around 15%, indicating room for further accumulation [8] - The strategy of gradual gold purchases is seen as a way to mitigate market volatility and manage costs effectively [7][8]

【风险提示】根据外汇管理相关规定，买卖外汇应在银行等国家规定的交易场所进行。私自买卖外汇、 变相买卖外汇、倒买倒卖外汇或者非法介绍买卖外汇数额较大的，由外汇管理机关依法予以行政处罚； 构成犯罪的，依法追究刑事责任。 每经AI快讯，11月7日，中国央行最新发布的数据显示，10月末外汇储备3.343万亿美元，9月末为 3.339万亿美元。中国10月末黄金储备报7409万盎司（约2304.457吨），环比增加3万盎司（约0.93 吨），为连续第12个月增持黄金。 （责任编辑：王治强 HF013） 每日经济新闻 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 11月7日，国家外汇管理局统计数据显示，截至2025年10月末，我国外汇储备规模为33433亿美元，较9 月末上升47亿美元，升幅为0.14%。 这是我国外汇储备连续三月站上3.3万亿美元大关，创2015年12月以来最高。黄金储备方面，央行连续 第12个月增持黄金。同日，央行公布的数据显示，10月末黄金储备报7409万盎司（约2304.457吨），环 比增加3万盎司（约0.93吨）。 国家外汇局表示，2025年10月，受主要经济体货币政策及预期、宏观经济数据等因素影响，美元指数上 涨，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。 我国经济基础稳、优势多、韧性强、潜能大，长期向好的支撑条件和基本趋势没有变，有利于外汇储备 规模保持基本稳定。 管涛还称，10月，人民币在主要非美货币中表现相对强势，中间价和在岸即期汇率（境内银行间市场下 午四点半交易价）累计分别升值175个、51个基点至7.0880比1、7.1135比1，其间在岸即期汇率一度升破 7.10，为2024年11月5日以来首次。当月，中间价 ...

Core Insights - As of October 2025, China's foreign exchange reserves reached $3.3433 trillion, marking a $4.7 billion increase from September, the highest level since December 2015 [1] - The increase in reserves is attributed to the rise in the US dollar index and overall global financial asset prices, influenced by major economies' monetary policies and macroeconomic data [1] - The US dollar index rose approximately 1.95% in the past month, while major non-USD currencies depreciated against the dollar [1] Group 1: Foreign Exchange Reserves - China's foreign exchange reserves have remained stable above $3.3 trillion for three consecutive months [1] - The increase in reserves is a result of combined effects from exchange rate adjustments and asset price changes [1] - The US Federal Reserve's interest rate decisions and the easing of US-China trade tensions have contributed to the strengthening of the dollar [1] Group 2: Asset Prices and Market Trends - Global stock and bond markets showed overall strength in October, supporting China's foreign exchange reserves [2] - The 10-year US Treasury yield fell by about 5 basis points due to the Fed's rate cuts and increased demand for safe-haven assets [2] - Major stock indices, including the S&P 500 and Nikkei, experienced gains, reflecting high market sentiment [2] Group 3: Gold Reserves - As of October, China's official gold reserves increased to 7.409 million ounces, with a monthly rise of 30,000 ounces, the lowest increase since November 2024 [2] - The People's Bank of China has been gradually increasing gold reserves since March, with monthly additions below 100,000 ounces [2] - The recent trend indicates a potential slowdown in gold purchases by central banks, including China, amid fluctuating gold prices [3] Group 4: Future Outlook - The foreign exchange authority emphasizes the stability of China's economic fundamentals, which are expected to support the stability of foreign exchange reserves [2] - The central bank's strategy to optimize international reserves and promote the internationalization of the renminbi suggests continued interest in gold accumulation [3] - The dual nature of gold as both a financial and commodity asset positions it as a key component in diversifying international reserves [3]

Core Viewpoint - As of October 2025, China's foreign exchange reserves reached $3.3433 trillion, marking a $4.7 billion increase from September, the highest level since December 2015, with reserves remaining above $3.3 trillion for three consecutive months [1] Group 1: Foreign Exchange Reserves - The increase in foreign exchange reserves in October was influenced by major economies' monetary policies, macroeconomic data, and a rising dollar index, which led to an overall increase in global financial asset prices [1] - The dollar index rose approximately 1.95% in the past month, while the euro, yen, and pound depreciated against the dollar by 1.7%, 4%, and 2.2% respectively [1] - Despite the Federal Reserve's interest rate cut in October, the dollar index strengthened due to market expectations cooling on further rate cuts, alongside improved China-U.S. trade relations and increased geopolitical uncertainty [1] Group 2: Asset Prices and Economic Outlook - Global stock and bond markets strengthened in October, supporting China's foreign exchange reserves, with the 10-year U.S. Treasury yield declining by about 5 basis points due to the Fed's rate cut and government shutdown concerns [2] - The outlook for China's foreign exchange reserves remains stable, supported by the country's strong economic fundamentals and potential for growth [2] Group 3: Gold Reserves - As of October, China's official gold reserves increased to 7.409 million ounces, a rise of 30,000 ounces, marking the lowest increase since November 2024 [2] - The People's Bank of China has been gradually increasing gold reserves since March, with monthly increments below 100,000 ounces, signaling a strategy to optimize international reserves [2] - The gold market has experienced volatility, with prices briefly exceeding $4,300 per ounce before a rapid correction, indicating potential slowing in central bank purchases due to reaching target levels [3]

Core Viewpoint - As of October 2025, China's foreign exchange reserves reached $33,433 billion, marking a $47 billion increase from September, the highest level since December 2015, with reserves stabilizing above $3.3 trillion for three consecutive months [1][2]. Group 1: Foreign Exchange Reserves - The increase in foreign exchange reserves in October was influenced by major economies' monetary policies, macroeconomic data, and a rising U.S. dollar index, which saw a 1.95% increase over the month [2][3]. - The rise in global financial asset prices, supported by a strong performance in global stock and bond markets, contributed to the increase in China's foreign exchange reserves [3]. Group 2: Gold Reserves - As of October, China's official gold reserves stood at 7.409 million ounces, with a monthly increase of 30,000 ounces, the lowest growth rate since the resumption of gold purchases in November 2024 [4]. - The People's Bank of China has been gradually increasing gold reserves since March, with monthly increments below 100,000 ounces, signaling a strategy to optimize international reserves [4][5]. Group 3: Market Outlook - The outlook for foreign exchange reserves remains stable due to China's strong economic fundamentals, resilience, and potential for growth, which are expected to support the stability of reserves [3]. - In the short term, gold demand may slow down due to easing geopolitical risks and trade tensions, while long-term demand is expected to remain strong as central banks continue to diversify their reserves [5].

Core Viewpoint - China's foreign exchange reserves continue to increase, reaching $33,433 billion by the end of October 2025, marking a rise of $47 billion from September, and a significant increase of $1,409.9 billion from the end of the previous year [1] Foreign Exchange Reserves - As of October 2025, China's foreign exchange reserves have risen for three consecutive months, remaining above $3.3 trillion [1] - The increase in reserves is attributed to the impact of asset price changes and exchange rate fluctuations, with a month-on-month rise of $47 billion [1] - The dollar index rose by 2.1% to 99.8 in October, influenced by stronger-than-expected U.S. economic growth and a decline in non-dollar currencies [2] Gold Reserves - China's gold reserves increased by 30,000 ounces (approximately 0.93 tons) to 7,409 million ounces by the end of October, marking the 12th consecutive month of gold accumulation [5] - The increase in gold reserves is seen as a strategy to optimize the structure of foreign exchange reserves and mitigate risks associated with a high proportion of dollar assets [5][8] - Global demand for gold from central banks remains high, with gold surpassing the euro as the second-largest reserve asset [6] Economic Analysis - The current level of foreign exchange reserves is considered moderately sufficient, providing support for maintaining the RMB exchange rate at a reasonable equilibrium [3] - The ongoing geopolitical risks and inflation concerns enhance the investment demand for gold, which is viewed as a hedge against such uncertainties [5][8] - The Chinese economy's stability and potential are fundamental supports for maintaining the foreign exchange reserve scale [8]

Core Insights - As of October 2025, China's foreign exchange reserves reached $33,433 billion, marking an increase of $47 billion from September, the highest level since December 2015 [1] - The increase in reserves is attributed to the rise in the US dollar index and overall global financial asset prices [1][5] - The People's Bank of China has been increasing its gold reserves for 12 consecutive months, with the latest figure at 7,409 million ounces, reflecting a modest increase of 3,000 ounces [1][9] Foreign Exchange Reserves - China's foreign exchange reserves have remained above $3.3 trillion for three consecutive months [1] - The dollar index rose by approximately 1.95% in the past month, while major currencies like the euro, yen, and pound depreciated against the dollar [5] - The strengthening of the dollar is influenced by the Federal Reserve's interest rate decisions and geopolitical uncertainties [5][6] Asset Prices and Market Conditions - Global stock and bond markets showed strength in October, supporting the increase in China's foreign exchange reserves [6] - The yield on 10-year US Treasury bonds fell by about 5 basis points due to the Federal Reserve's rate cuts, leading to increased liquidity in the market [6] - Major stock indices, including the S&P 500 and Nikkei, experienced gains during this period [6] Gold Reserves - The increase in gold reserves by the People's Bank of China is seen as a strategy to optimize international reserves amid fluctuating gold prices [9][10] - Recent fluctuations in gold prices have seen them rise above $4,000 per ounce before retreating below $3,900 [10] - Analysts suggest that the central bank's gold purchases may slow down due to various market factors, but the long-term demand for gold remains strong [10]