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HomeInvestmentChina forex reserves rise to $3.205 trln in April By Reuters

China forex reserves rise to $3.205 trln in April By Reuters

© Reuters. FILE PHOTO: U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. REUTERS/Dado Ruvic/Illustration

BEIJING (Reuters) – China’s foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose $21 billion to $3.205 trillion last month, compared with $3.192 trillion tipped by a Reuters poll of analysts and $3.184 trillion in March.

The yuan fell 0.63% against the dollar in April, while the dollar last month fell 0.94% against a basket of other major currencies.

China held 66.76 million fine troy ounces of gold at the end of April, rising from 66.50 million ounces at end-March.

The value of China’s gold reserves rose to $132.35 billion at the end of April from $131.65 billion at the end-March.

This story originally appeared on Investing

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