Chinese Foreign Exchange Reserves Increase To 3.2 Trillion US Dollars

Illustration of the cadev increase (doc. Antara)

JAKARTA - China's foreign exchange reserves reached US$3.2048 trillion at the end of April, up 0.66 percent from the end of March.

This was published by the State Foreign Exchange Administration on Sunday (7/5/2023) local time.

Foreign exchange regulators attribute the increase to currency translations and asset price changes.

The US dollar index fell and global financial asset prices rose in April, influenced by global macroeconomic data and major economic monetary policy, regulators said.

China's foreign exchange reserves are expected to remain stable in general. This is because the country has increased high-quality development.

In addition, regulators say China's economy has shown a positive development trend.

China's gold reserves also increased to 66.76 million ounces at the end of April, up from 66.5 million ounces at the end of March, according to State Foreign Exchange Administration data.