Forex Reserves
China’s foreign exchange (forex) reserves totaled $3.238 trillion as of late December 2023, up $66.2 billion, or 2.1 percent, from the previous month, according to data released on January 7 by the State Administration of Foreign Exchange (SAFE).
In a statement, the SAFE said, affected by factors such as the monetary policies of the world’s major economies as well as expectations, the U.S. dollar index, a measure of the value of the U.S. dollar relative to a basket of foreign currencies, saw a decline in December 2023 while global financial asset prices generally increased.
It attributed the increase in the size
