Free Trial

China FX Reserves Rise on Weakening Dollar: Daily

CHINA PRESS
MNI (Singapore)

China's foreign exchange reserves stood at USD3.2218 trillion by the end of May, an increase of 0.74% from the previous month, driven by the recent appreciation of non-U.S. currencies, the rise in major financial assets prices and the rapid growth in exports, the Economic Information Daily reported citing the State Administration of Foreign Exchange. Looking forward, the country's forex supply and demand will be balanced as the yuan fluctuates, while the continued recovery supports the stability of forex reserves, the daily said citing Wen Bin, chief researcher of China Minsheng Bank.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.