China's forex reserves rise more than expected in April

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Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS

China’s foreign exchange reserves rose more than expected in April, central bank data showed on Thursday, helped by broad weakness in the US dollar.

The world’s largest reserves of foreign currency totalled US$3.411 trillion (HK$26.73 trillion) last month, exceeding the US$3.36 trillion estimate in a Reuters poll.

The reserves amounted to US$3.342 trillion in March.

The yuan strengthened 0.83 percent against the dollar last month. The dollar also fell 1.76 percent against a basket of major currencies.

Reuters

China foreign exchange reserves

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