China's forex reserves rise in April

0 Comment(s)Print E-mail Xinhua, May 08, 2023

File photo shows a bank staff member counts U.S. dollar banknotes at a bank in Tancheng County of Linyi City, east China's Shandong Province. (Xinhua/Zhang Chunlei)

BEIJING, May 7 (Xinhua) -- China's foreign exchange reserves came in at 3.2048 trillion U.S. dollars at the end of April, up 0.66 percent from that at the end of March, the State Administration of Foreign Exchange said on Sunday.

The foreign exchange regulator attributed the rise to currency translation and asset price changes.

The U.S. dollar index fell and the prices of global financial assets climbed in April, affected by global macroeconomic data and monetary policies of major economies, the regulator said.

China's foreign exchange reserves are expected to stay generally stable as the country has been promoting high-quality development and its economy has shown a positive development trend, according to the regulator.  ■

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