China's forex reserves rebound in June

10 July, 2018 12:00 AM printer

BEIJING: China's foreign exchange reserves stood at 3.1121 trillion U.S. dollars at the end of June, up 0.05 percent from May, official data showed Monday.

The amount, beating market forecasts of 3.1028 trillion dollars, came after two months of decline, according to the People's Bank of China (PBOC), reports Xinhua.

The State Administration of Foreign Exchange (SAFE) attributed the rise in June to a stable forex market at home, dollar strength and fluctuating asset prices.

The economy has been stable this year with good momentum for growth. Sound economic fundamentals have stabilized market expectations and cross-border capital flows, the SAFE said on its website.