March 07, 2024 09:32 GMT
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.
The yuan fell 0.25% against the U.S. dollar last month.
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