China FX Reserves Rise to $3.128 Trillion

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China FX Reserves Rise to $3.128 Trillion

China FX Reserves Rise to $3.128 Trillion

China’s foreign exchange (FX) reserves inched upward in December, 2022 official data showed on Saturday, as the dollar fell against other major currencies despite pressures facing the economy from ravaging coronavirus.

The country’s foreign exchange reserves – which is currently the world’s largest – rose $11 billion to $3.128 trillion last month, compared with $3.154 trillion predicted by a Reuters poll of analysts and $3.117 trillion in November.

The Yuan rose 2.8% against the dollar in December, while the dollar last month fell 2.3% against a basket of other major currencies. Data show that China held 64.64 million fine troy ounces of gold at the end of December, down from end-November.

The value of China’s gold reserves rose to $117.24 billion at the end of December from $111.65 billion at end-November. # China FX Reserves Rise to $3.128 Trillion

>>Nigerian Treasury Bills Yield Spikes, FGN Bonds Bump

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