Forex Reserve Up
China’s foreign exchange (forex) reserves rose to $3.1845 trillion at the end of January, up 1.82 percent from a month earlier, data from the State Administration of Foreign Exchange showed.
The forex regulator attributed the increase in said reserves to the combined impact of currency translation and asset price changes.
Affected by monetary policy expectations and macroeconomic data of major economies, the U.S. dollar weakened against other major currencies and the prices of global financial assets climbed that month, the regulator said.
It added that China’s forex reserves are expected to stay generally stable as its economy continues to recover,
