Chinas forex reserves declined again in September

Chinas foreign-exchange reserves fell for a second straight month in September amid U.S. dollar strength.

The countrys hoard of foreign exchange stood at $3.029 trillion at the end of September, down $25.9 billion from a month earlier, according to data released by the Peoples Bank of China on Friday.

Economists had expected Chinas forex reserves at $2.995 trillion at the end of September, given pressure from capital outflow via the stock market and the U.S. dollar strengthening against other major currencies, according to a poll by The Wall Street Journal.

Due to the combined effects of exchange-rate changes and a decline in global asset prices, forex reserves decreased in September, said Wang Chunying, deputy head of Chinas forex regulator, in a statement.

The instability and uncertainty factors of the global economy have significantly increased, and fluctuations in the international financial markets have intensified, Wang added in the statement.