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China's central bank says growth of the country's foreign exchange reserves is slowing. The total exceeded 2.45 trillion U.S. dollars by the end of June, up about 15 percent year on year.
China's foreign exchange reserves increased by 7.2 billion U.S. dollars in the second quarter. That's a drastic fall compared to the last quarter of 2009.
The central bank attributes the declining euro as the major reason behind the slowing growth in foreign exchange reserves. The exchange rate between the euro and the U.S. dollar dropped by nearly 20 percent between the end of 2009 and May this year.