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China’s foreign reserves increase to $3.128 trillion in December

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China’s foreign reserves increase to $3.128 trillion in December

Robert Besser
11 Jan 2023, 12:54 GMT+10

China’s foreign exchange reserves rose in December, due to the US dollar falling against other major currencies
Last month, Chinese foreign exchange reserves, the world’s largest, rose $11 billion to $3.128 trillion, compared to the $3.154 trillion predicted
In December, the country’s currency, the yuan, increased 2.8 percent against the dollar, which fell 2.3 percent against a basket of other major currencies last month

BEIJING, China: China’s foreign exchange reserves rose in December, due to the US dollar falling against other major currencies.

Last month, Chinese foreign exchange reserves, the world’s largest, rose $11 billion to $3.128 trillion, compared to the $3.154 trillion predicted by Reuters, and $3.117 trillion being held in November.

In December, the country’s currency, the yuan, increased 2.8 percent against the dollar, which fell 2.3 percent against a basket of other major currencies last month.

At the end of December, China held 64.64 million fine troy ounces of gold, down from the end of November, while the value of its gold reserves rose to $117.24 billion from $111.65 billion during the same period.