China’s forex reserves stand at $3.0956tr

9 December, 2019 12:00 AM printer

BEIJING: China’s foreign exchange reserves came in at 3.09 trillion U.S. dollars at the end of November, official data showed Saturday.

The amount increased by 22.9 billion dollars, or 0.7 percent, from the beginning of 2019, according to the State Administration of Foreign Exchange (SAFE), reports Xinhua.

Wang Chunying, a spokesperson for the SAFE, said that the scale of forex reserves is affected by multiple factors including exchange rates and changes in asset prices.

Factors including the global economic growth, monetary policy expectations and global trade situations led to the rise in the U.S. dollar index and the drop in bond prices of major countries, said Wang.