China Foreign Exchange Reserves Rose as Dollar Weakened in January

HomeForex News

China Foreign Exchange Reserves Rose as Dollar Weakened in January

China's foreign-exchange reserves rose in January, official data showed Tuesday, amid a weakening U.S. dollar. The reserves rose by $56.8 billion

China’s foreign-exchange reserves rose in January, official data showed Tuesday, amid a weakening U.S. dollar.

The reserves rose by $56.8 billion from a month earlier to $3.184 trillion, said the State Administration of Foreign Exchange. The rise was wider than the $26 billion increase expected by economists polled by The Wall Street Journal.

Economists said the increase might have come from the sizable capital inflow into China’s stock market and a weakening U.S. dollar that could have inflated non-dollar assets in the reserves.

The foreign exchange regulator said in an online statement that China’s economic recovery is sustainable, which could stabilize the nation’s foreign exchange.

Write to Singapore Editors at [email protected]

(END) Dow Jones Newswires

02-07-23 0345ET

www.marketscreener.com