China’s foreign exchange reserves, the largest in the world, increased by $28.7 billion (+0.85%) in February compared to the previous month and amounted to $3.428 trillion, according to a statement by the People’s Bank of China.
The reserves reached their highest level since November 2015.
The US dollar rose 0.51% against a basket of major world currencies last month. The yuan rose 1.35% against the US currency.
Gold reserves in China rose for the sixteenth consecutive month in February, to 74.22 million ounces from 74.19 million ounces in January. In value terms, gold reserves rose to $387.59 billion from $369.58 billion at the end of January.
China’s foreign exchange reserves, the world’s largest, increased by $29.9 billion (0.9%) in August compared to the previous month and amounted to $3.322 trillion, the People’s Bank of China said in a statement. That’s the most since December 2015.
The yuan appreciated 0.9% against the U.S. currency last month. Meanwhile, the U.S. dollar fell 2.2% against a basket of major world currencies.
Gold reserves stood at 74.02 million ounces at the end of August, up from 73.96 million ounces a month earlier. The Chinese Central Bank bought precious metal for the tenth month in a row. In value terms, gold reserves reached $253.84 billion against $243.99 billion at the end of July.
The Chinese economy continues to maintain stable growth, showing resilience and vitality, which helps to keep the country’s foreign exchange reserves at a stable level, said the State Administration of Foreign Exchange Control of the People’s Republic of China.
