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     BEIJING (MNI) - The People's Bank of China's foreign-exchange (forex)
purchase position rose in March for a third straight month, reflecting a
relatively balanced flow of supply and demand, data released by the central bank
showed.
     The PBOC's forex purchase position on Mar. 31 rose by CNY7.838 billion from
a month ago to CNY21.495 trillion, according to a statement posted on its
website Wednesday, compared with February's CNY4.051 billion increase, the data
showed.
     The value of PBOC's forex reserves rose by $8.34 billion in March from the
previous month due to changes in the basis of valuation, PBOC said separately on
April 9.
     As March saw the yuan trading in a range acceptable to PBOC, the central
bank is believed to have refrained from intervening in the forex market,
therefore its forex purchase position is little changed. MNI expects the PBOC's
forex purchase position to continue fluctuate in a relatively small range in
coming months.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAQDS$,M$A$$$,M$Q$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com