China’s foreign exchange reserves rose to 3.09 trillion US dollars

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China’s foreign exchange reserves rose to 3.09 trillion US dollars
March 07
13:00 2019

The State Administration of Foreign Exchange of the People’s Republic of China has provided the data according to which the country’s foreign exchange reserves have increased by $ 2.26 billion per month. At the moment, the amount of foreign-exchange accumulations of the Celestial Empire is 3 trillion 90.18 billion US dollars.

According to the analysts interviewed by the Bloomberg agency, the reserves should be slightly increased. They noted the figure of 3 trillion 87.95 billion dollars.

For comparison, in January the reserves increased by 15.2 billion US dollars.

According to the results of 2018, the reserves have reduced. The reason is clear: a slowdown in the economic growth caused by a conflict with the States. It should be noted that it is the third consecutive decline in reserves over the past four years.

Last month the national currency of China showed the increase of 0.1% against the US dollar. From the beginning of this year, the growth has amounted to about 2%. Last year, the yuan fell by 5.3% against the US currency.

In late January, the PRC’s gold reserves were estimated at $ 79.3 billion. In February, it grew and is currently worth $ 79.5 billion.

According to the forecasts of the State Administration of Foreign Exchange, the reserves and balance of payments of the People’s Republic of China in 2019 will be stable.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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