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Economy

China's August forex reserves rise unexpectedly by $3.5bn

Economists had predicted $4bn fall amid currency volatility

The yuan fell about 3.8% against the dollar in August -- the sharpest monthly drop in 25 years.   © Reuters

BEIJING (Reuters) -- China's foreign exchange reserves rose unexpectedly in August, even as the yuan posted its biggest monthly drop in 25 years amid escalating trade tensions with the United States.

The country's foreign exchange reserves - the world's largest - rose by $3.5 billion in August to $3.1072 trillion, central bank data showed on Saturday.

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