The National Foreign Exchange Commission of China announced that the country’s foreign exchange reserves amounted to 3.193 trillion US dollars at the end of last June, compared to 3.17651 trillion US dollars in the previous month.
The foreign exchange regulator attributed the increase in foreign exchange reserves to the effects of currency conversion and changes in asset prices. The authority indicated that the US dollar index witnessed a decline in June, and the prices of global financial assets witnessed fluctuations as a result of the financial and monetary policies of major economies, in addition to global economic data.
The authority emphasized that China’s foreign exchange reserves are expected to remain generally stable, given the overall trend of the country’s economic recovery and continuous efforts to promote high-quality development.
The data also showed that the country’s reserves of gold rose to 67.95 million ounces at the end of last June, up from 67.27 million ounces recorded at the end of last May.