China's foreign-exchange reserves unexpectedly fell in June, snapping a two-month gain amid a strengthening U.S. dollar.
The hoard of foreign exchanges dropped by $26 billion to $3.416 trillion last month, the People's Bank of China said Tuesday. The result was lower than the $8 billion increase expected by economists surveyed in a Wall Street Journal poll.
China's forex regulator attributed the decline to a rising U.S. dollar and shifting global asset prices over the past month. The regulator reiterated that the nation's forex reserves are expected to remain stable over the long term.
Write to Singapore Editors at singaporeeditors@dowjones.com
(END) Dow Jones Newswires
