Forex reserves edge up in Oct

China's foreign exchange reserves edged up to $3.0524 trillion by the end of October due to a softening US dollar, the State Administration of Foreign Exchange said on Monday.

The amount marked an increase of $23.5 billion or 0.77 percent compared with the end of September, SAFE said in a statement.

The statement said the country's foreign exchange reserves increased last month as the dollar index edged down while global financial markets were mixed. A weaker dollar has made reserves denominated in other currencies more valued in the dollar term.

Solid fundamentals of the Chinese economy will continue to keep the amount of the country's foreign exchange reserves generally stable, the statement said.