China forex reserves rise to US$3.18 trillion in March

CHINA’S foreign exchange reserves rose in March, official data showed on Friday (Apr 7), as the US dollar fell against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose US$51 billion to US$3.184 trillion last month, compared with US$3.149 trillion tipped by a Reuters poll of analysts and up from US$3.133 trillion in February.

The yuan rose 0.86 per cent against the US dollar in March, while the US dollar fell 2.3 per cent 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 US$131.65 billion at the end of March from US$120.28 billion at end-February. REUTERS