China cenbank: any future fluctuations in forex reserves will be "normal"

China's Central Bank said on Tuesday its intervention in the forex market was one of the reasons for a fall in foreign exchange reserves and any future fluctuations in reserves would be "normal". 

PHOTO: BLOOMBERG

SEP 8, 20158:17 PM

[BEIJING] China's Central Bank said on Tuesday its intervention in the forex market was one of the reasons for a fall in foreign exchange reserves and any future fluctuations in reserves would be "normal".

China's foreign exchange reserves, the world's largest, shrank by US$93.9 billion in August, the biggest monthly fall on record - to US$3.557 trillion, central bank data showed on Monday.

The bank said the fall in forex reserves was also due to currency fluctuations.

The bank also said in a statement the Chinese economy could maintain medium- to high-speed growth in the long term and the current account would remain in surplus over the long term.

REUTERS