June 07, 2024 09:52 GMT
MNI BRIEF: China May Forex Reserves Rise On Weakened Dollar
MNI (Singapore)
MNI (Beijing)
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China's foreign exchange reserves rose to USD3.232 trillion in May, up by USD31.2 billion from April, as the U.S. dollar index fell in the month, data released by the State Administration of Foreign Exchange on Friday showed.
The 0.98% rise was attributed to the falling U.S. dollar index and generally rising global financial asset prices, SAFE said, adding that the continued consolidation of the economic recovery will support basic stability of the scale of FX reserves.
China's gold reserves remained unchanged in May at 72.8 million ounces after rising for 18 consecutive months.
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