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China forex reserves rise to $3.205 trln in April

The value of China's gold reserves rose to $132.35 billion at the end of April
U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. Illustration via Reuters
U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. Illustration via Reuters

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

The country’s foreign exchange reserves - the world’s largest - rose $21 billion to $3.205 trillion last month, compared with $3.192 trillion tipped by a Reuters poll of analysts and $3.184 trillion in March.

The yuan fell 0.63% against the dollar in April, while the dollar last month fell 0.94% against a basket of other major currencies.

China held 66.76 million fine troy ounces of gold at the end of April, rising from 66.50 million ounces at end-March.

The value of China’s gold reserves rose to $132.35 billion at the end of April from $131.65 billion at the end-March.

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