“China’s Foreign Exchange Reserves Rise in April as US Dollar Falls”

China’s Foreign Exchange Agency (SAFE) said China’s foreign exchange reserves rose more than expected in April. As the US dollar fell against other major currencies.

China’s international reserves in April rose by $21 billion to $3.205 trillion. That compares with analysts’ forecasts in a Reuters poll of $3.192 trillion and $3.184 trillion in March.

China’s yuan fell 0.63% against the dollar in April. The US dollar, meanwhile, was down 0.94 percent against a basket of major currencies.

China had gold reserves of 66.76 million ounces as of the end of April. This is up from 66.50 million ounces at the end of March.

China’s gold reserves rose to $132.35 billion at the end of April. from $13165 billion at the end of March

By InfoQuest News Agency (07 May ’23)

Tags: FX, China, reserves