China’s Foreign Exchange Reserves Reach $3.193 Trillion
Last Friday, the National Monetary Authority announced
The Increase in Foreign Exchange Reserves
Last Friday, the National Monetary Authority said China’s foreign exchange reserves reached $3.193 trillion at the end of June last year, up from $3.17651 trillion registered the previous month.
The currency regulator attributed the increase in foreign exchange reserves to the combined effect of currency conversion and changes in asset prices.
Influence of Financial and Monetary Policies
The authorities said that the US dollar index fell in June, while the prices of global financial assets recorded fluctuations, which were influenced by the financial and monetary policies of major economies, as well as global macroeconomic data.
Stability of China’s Foreign Exchange Reserves
China’s foreign exchange reserves are expected to remain broadly stable, the authorities added, as the country sees an economic recovery trend and a constant pursuit of quality development.
Rise in Gold Reserves
The data also showed that the country’s gold reserves rose to 67.95 million ounces at the end of June last year, compared to 67.27 million ounces recorded at the end of May last year.
