China's Forex Reserves Rise $31.7 Billion to $3.442 Trillion, Highest Since 2015
Updated
Updated · TradingView · Jun 5
China's Forex Reserves Rise $31.7 Billion to $3.442 Trillion, Highest Since 2015
1 articles · Updated · TradingView · Jun 5
Summary
$3.442 trillion in May marked China’s highest foreign-exchange reserve level since October 2015, up $31.7 billion from April’s $3.411 trillion.
The 0.93% increase came as the U.S. dollar strengthened against other major currencies and prices of major global financial assets rose, lifting the valuation of reserve holdings.
The People’s Bank of China also extended its gold-buying streak to 19 straight months, raising holdings to 74.96 million fine troy ounces from 74.64 million in April.
The combined rise in forex and gold reserves points to continued balance-sheet support from valuation gains and steady reserve diversification.