China forex reserves rise to $3.238 trillion in December – Markets

BEIJING: China’s foreign exchange reserves rose in December, official data showed on Sunday, as the dollar fell against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose more than expected, by $66 billion to $3.238 trillion last month, above the $3.200 trillion tipped by a Reuters poll of analysts and up from $3.172 trillion in November.

yuan rose 0.52% against the dollar in December, while the dollar last month fell 2% against a basket of other major currencies =USD. China held 71.87 million fine troy ounces of gold at the end of December, up from 71.58 million ounces at the end of November.

China’s yuan inches lower

The value of China’s gold reserves rose to $148.23 billion at the end of December from $145.7 billion at the end of November.