China's foreign exchange reserves totaled 3.2659 trillion U.S. dollars at the end of November, up by 4.8 billion dollars, o
China’s foreign exchange reserves totaled 3.2659 trillion U.S.
dollars at the end of November, up by 4.8 billion dollars, or 0.15
percent, from the end of October, official data showed Saturday,
Azernews reports, citing Xinhua.
According to a statement from the State Administration of
Foreign Exchange, both the U.S. dollar index and global financial
asset prices climbed last month, affected by the monetary policies
of major economies, market expectations and macroeconomic data.
Due to the combined effects of factors such as currency
translation and changes in asset prices, China’s foreign exchange
reserves expanded last month, according to the statement.
The country’s economic recovery is picking up momentum and
market confidence is improving, and these factors are conducive to
maintaining the stable scale of the country’s foreign exchange
reserves, the administration said.
According to data released Saturday by the People’s Bank of
China, the country’s gold reserves increased to 72.96 million
ounces at the end of November, up from 72.8 million ounces a month
ago.
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