China’s forex reserve rises by 0.66 percent in April

China’s foreign exchange reserves continued rose further in April, official data showed on Sunday, as the dollar fell against other major currencies.

The foreign exchange reserves rose 0.66 percent or $20.9 billion, to $3.205 trillion in the month of April, according to China’s State Administration of Foreign Exchange (SAFE).

The change in forex reserves was influenced by a host of factors such as the falling U.S. dollar index and rising global financial asset prices, caused by global macroeconomic indicators including monetary policy expectations of major economies, SAFE said on Sunday.

The Chinese currency renminbi (RMB), or the yuan, fell 0.63 percent against the dollar in April, while the dollar last month fell 0.94 percent against a basket of other major currencies.

China held 66.76 million fine troy ounces of gold at the end of April, rising from 66.50 million ounces at end-March. The value of China’s gold reserves rose to $132.35 billion at the end of April from $131.65 billion at the end of March.

CGTN/Hauwa Abu