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

 Breaking News
  • Microsoft, Amazon and eBay are at record highs On Tuesday, securities of Microsoft Corp, Amazon.com Inc and eBay Inc broke records. The rush of investors’ demand for the shares of those companies involved in electronic commerce caused such...
  • Quarantine in Hong Kong is not for everyone Hong Kong is rescuing its stock exchange. In order to give life to the trading platform, the administration of the metropolis has shown flexibility concerning quarantine measures. So, Christopher Hui...
  • Economy of Japan demonstrates recession In the first quarter of this year, the economy of the Land of the Rising Sun dropped by 0.6% in monthly terms. The figures are not optimistic but are better...
  • Energy market news On Saturday, representatives of the countries included in the OPEC+ cartel managed to agree on the extension of the restrictions on oil production. It also became known that those countries...
  • Bentley fires employees in order to prevent losses in 2020 The Bentley brand has long been synonymous with luxury living. Unfortunately, the British automaker has to save because of a forced two-month break. The company’s CEO Adrian Hallmark said to...
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

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment