Advertisement
Advertisement

China’s March Forex Reserves Fall to $3.17 Trillion

By:
Reuters
Updated: Apr 7, 2021, 09:09 UTC

BEIJING - China's foreign exchange reserves fell more than expected in March, official data showed on Wednesday, as the dollar posted a gain against a basket of major currencies.

Chinese Yuan banknotes are seen in this illustration

The country’s foreign exchange reserves – the world’s largest – fell $34.97 billion to $3.17 trillion last month, compared with the $3.19 trillion expected by a Reuters poll of analysts and $3.205 trillion in February.

Foreign inflows into Chinese stocks and bonds have been strong as China gallops ahead of other major economies in its recovery from the coronavirus pandemic.

The yuan fell 1.28% against the dollar in March, while the dollar rose 2.52% in March against a basket of other major currencies.

China held 62.64 million fine troy ounces of gold at the end of March, unchanged from the end-February.

The value of China’s gold reserves fell to $105.93 billion at the end of March from $109.18 billion at the end-February.

(Reporting by Judy Hua and Kevin Yao; Editing by Andrew Heavens)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Did you find this article useful?

Advertisement