China forex reserves rise to $3.18 trln in March

China forex reserves rise to $3.18 trln in March
© Reuters. FILE PHOTO: U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration

BEIJING (Reuters) – China’s foreign exchange reserves rose in March, official data showed on Friday, as the dollar fell against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose $51 billion to $3.184 trillion last month, compared with $3.149 trillion tipped by a Reuters poll of analysts and up from $3.133 trillion in February.

The yuan rose 0.86% against the dollar in March, while the dollar fell 2.3% against a basket of other major currencies.

China held 66.50 million fine troy ounces of gold at the end of March, up from 65.92 million at end-February.

The value of China’s gold reserves rose to $131.65 billion at the end of March from $120.28 billion at end-February.

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