China forex reserves rise to $3.18 trln in March

[beijingwalker]

China forex reserves rise to $3.18 trln in March​

(Apr 07, 2023 04:25AM ET)

© Reuters. FILE PHOTO: U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration

BEIJING (Reuters) - China's foreign exchange reserves rose in March, official data showed on Friday, as the dollar fell against other major currencies.

The country's foreign exchange reserves - the world's largest - rose $51 billion to $3.184 trillion last month, compared with $3.149 trillion tipped by a Reuters poll of analysts and up from $3.133 trillion in February.
The yuan rose 0.86% against the dollar in March, while the dollar fell 2.3% against a basket of other major currencies.

China held 66.50 million fine troy ounces of gold at the end of March, up from 65.92 million at end-February.

The value of China's gold reserves rose to $131.65 billion at the end of March from $120.28 billion at end-February.

China forex reserves rise to $3.18 trln in March By Reuters

China forex reserves rise to $3.18 trln in March

www.investing.com

 

[Laozi]

Time to help a friend in NEED

Invest more on CPEC

 

[etylo]

Time to help a friend in NEED

Invest more on CPEC

You Indian hypocrites stop calling cheap shots at China all the time. China has 1.4 billion people to take care of and there are huge debts more than 10 trillion USD owed by Chinese central and local govs.

To you Indians and some Pakistanis, CPEC is a debt trap, why you want more of this ?

 

[etylo]

Dont know what the Chinese gov is doing, they should dump dollar and Euro assests as soon as possible, Chinese money and investments are not safe in American and European holdings.

 

[Genghis khan1]

Dont know what the Chinese gov is doing, they should dump dollar and Euro assests as soon as possible, Chinese money and investments are not safe in American and European holdings.

They are doing exactly that, Chinese are dumping US treasure bonds and buying gold. Infact all major economies are purchasing gold instead of holding dollar, including India.

 

[etylo]

They are doing exactly that, Chinese are dumping US treasure bonds and buying gold. Infact all major economies are purchasing gold instead of holding dollar, including India.

Chinese gov is dumping US bonds, maybe assests also, too little and too slow.

 

[StraightEdge]

The value of China's gold reserves rose to $131.65 billion at the end of March from $120.28 billion at end-February.

There are many studies which says China/PBOC doesn't publish accurate gold reserve figures. China's published gold reserves are too tiny for a country of it's size. Almost certainly actual reserves are higher.

China Owns A Lot More Gold Than It’s Letting On | GoldBroker.com
China almost certainly owns more gold than the US – here’s why that matters | MoneyWeek