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China foreign-Exchange Reserves Expand in December 2022

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China foreign-Exchange Reserves Expand in December 2022

(CTN News) – According to official figures released on Saturday, China’s foreign currency reserves increased in December as the dollar declined versus other major currencies.

China’s foreign-exchange reserves rose $11 billion to $3.128 trillion in December.

The biggest nation in the world’s foreign currency reserves increased $11 billion to $3.128 trillion last month, beating expert expectations of $3.154 trillion and $3.117 trillion, respectively.

While the dollar last month declined 2.3% versus a basket of other major currencies, the yuan gained 2.8% against the dollar.

At the end of December, China had 64.64 million fine troy ounces less gold than at the end of November.

Chinese’s gold reserves increased in value from end-November to end-December, going from $111.65 billion to $117.24 billion.

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