China’s Forex Reserves Swell to $3.2 Trillion on Dollar Slide

China’s foreign exchange reserves swelled last month, according to official data, as the dollar fell against most major currencies.

The country’s foreign exchange reserves – already the world’s largest – rose $21 billion to $3.205 trillion last month, compared with $3.192 trillion tipped by a Reuters poll of analysts and $3.184 trillion in March.

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The yuan fell 0.63% against the dollar in April, while the dollar last month fell 0.94% 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-March.

Reuters with additional editing by Sean O’Meara

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.