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MNI BRIEF: China Forex Reserves Unexpectedly Rise In February

MNI (Singapore)
MNI (Beijing)
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China's foreign exchange reserves unexpectedly rose in February, up by USD6.5 billion to USD3.2258 trillion, according to data released by the State Administration of Foreign Exchange on Thursday.

The 0.2% rise was attributed to the higher U.S. dollar index and mixed global financial asset prices, SAFE said, adding that China’s long-term positive economic trend will continue to be consolidated which is conducive to maintaining basic stability in the scale of FX reserves.

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China's foreign exchange reserves unexpectedly rose in February, up by USD6.5 billion to USD3.2258 trillion, according to data released by the State Administration of Foreign Exchange on Thursday.

The 0.2% rise was attributed to the higher U.S. dollar index and mixed global financial asset prices, SAFE said, adding that China’s long-term positive economic trend will continue to be consolidated which is conducive to maintaining basic stability in the scale of FX reserves.

Keep reading...Show less