In August, China's foreign exchange reserves reached their highest point in over eight and a half years, as reported by official data on Saturday. This increase is primarily attributed to a generally weaker U.S. dollar.
The nation's foreign exchange reserves, the largest in the world, rose by $31.8 billion, bringing the total to $3.288 trillion last month. This marks the second consecutive month of growth and the highest level since December 2015.
However, this figure fell slightly short of the $3.289 trillion anticipated in a Reuters survey of analysts.
During August, the yuan appreciated by 1.9% against the dollar, while the dollar itself weakened by 2.2% against a range of other major currencies.