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MNI BRIEF: China FX Reserves 1.38% April Dip In Dollar Terms

MNI (BEIJING)
MNI (Beijing)

China’s foreign exchange reserves totalled USD3.208 trillion through end-April, down 1.38% from March, according to data released by the State Administration of Foreign Exchange (SAFE) on Tuesday.

Reserves had fallen due to exchange rate conversion effects and changes in asset prices, SAFE said in a statement. However looking forwards, the country’s FX reserves would maintain basic stability given China’s resilient economy.

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China’s foreign exchange reserves totalled USD3.208 trillion through end-April, down 1.38% from March, according to data released by the State Administration of Foreign Exchange (SAFE) on Tuesday.

Reserves had fallen due to exchange rate conversion effects and changes in asset prices, SAFE said in a statement. However looking forwards, the country’s FX reserves would maintain basic stability given China’s resilient economy.

Keep reading...Show less