CHINA FOREX RESERVES HIT US$3.226 TRILLION

 

China's foreign exchange reserves – the world’s largest – rise by US$6.5 billion to US$3.226 trillion last month.

The country's foreign exchange reserves unexpectedly rose in February, official data showed on Thursday (Mar 7), even as the US dollar climbed against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose by US$6.5 billion to US$3.226 trillion last month, compared with US$3.205 trillion tipped by a Reuters poll of analysts and US$3.219 trillion in January.

The yuan fell 0.25 per cent against the US dollar in February, while the US dollar last month rose 0.6 per cent against a basket of other major currencies.

China held 72.58 million fine troy ounces of gold at the end of February, up from 72.19 million ounces at the end of January.

The value of China’s gold reserves rose to US$148.64 billion at the end of February from US$148.23 billion at the end-January