Economic Indicators

China forex reserves fall to $3.219 trln in January

2024.02.07 04:46


© Reuters. FILE PHOTO: U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

BEIJING (Reuters) – China’s overseas trade reserves fell lower than anticipated in January, official knowledge confirmed on Wednesday, because the greenback rose towards different main currencies.

The nation’s overseas trade reserves – the world’s largest – fell by $18.66 billion to $3.219 trillion final month, in contrast with $3.217 trillion tipped by a Reuters ballot of analysts and $3.238 trillion in December.

The yuan fell 1% towards the greenback in January, whereas the greenback final month rose 2.2% towards a basket of different main currencies.

China held 72.19 million nice troy ounces of gold on the finish of January, up from 71.87 million ounces the top of December.

The worth of China’s gold reserves stood at $148.23 billion on the finish of January, unchanged from a month earlier.

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