China's Forex Reserves Rise for Second Consecutive Month to Stay Above USD3 Trillion
Yicai Global
/SOURCE : Yicai
China's Forex Reserves Rise for Second Consecutive Month to Stay Above USD3 Trillion

(Yicai Global) April 7 -- China's foreign exchange reserves rose for the second consecutive month in March, to remain above the USD3 trillion

Reserves rose to USD3.009 trillion, climbing USD3.96 billion through the month of March, China's central bank said today.

The country's forex reserves neared USD4 trillion less than two years ago, but a rallying dollar saw the figure reach less than USD3 trillion in January. As the value of the dollar stabilized, China's reserves have slowly gained traction to gently rise over the past two months.

The value in Special Drawing Rights, an International Monetary Fund currency basket, was SDR2.218 trillion, slightly lower than the SDR2.219 trillion a month earlier.

China's gold reserves remained at 59.24 million ounces at the end of the month, unchanged since the end of October. However, the value of its gold decline last month to USD73.7 billion from USD74.4 billion.

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Keywords: FOREX RESERVES , Economy , GOLD , Yuan , IMF