China forex reserves slump by record $93.9B in August

China's foreign currency reserves shrunk by $93.9 billion to hit $3.56 trillion at August-end, the largest monthly drop on record, according to reports.

The reduction was, however, smaller than forecasts of a fall as much as $200 billion, Reuters wrote. The information was released on the website of the People's Bank of China (PBOC) after Chinese stock markets closed.