Mon, 29 May 2023

China's forex reserves rise in January

07 Feb 2023, 21:05 GMT+10

© Provided by Xinhua

BEIJING, Feb. 7 (Xinhua) -- China's foreign exchange reserves rose to 3.1845 trillion U.S. dollars at the end of January, up 1.82 percent from a month earlier, data from the State Administration of Foreign Exchange showed Tuesday.

The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation and asset price changes.

Affected by monetary policy expectations and macroeconomic data of major economies, the U.S. dollar index fell, and the prices of global financial assets climbed last month, the regulator said.

It added that China's foreign exchange reserves are expected to stay generally stable as China's economy continues to recover, with endogenous dynamics increasing.

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