China’s forex reserves rise to $3.2457 trillion in March

Beijing: China’s forex reserves totaled $3.2457 trillion as of the end of March, rising by $19.8 billion, or 0.62 percent, from the end of February, according to data released on Sunday by the State Administration of Foreign Exchange (SAFE).

The increase was driven by factors including exchange rate fluctuations and rising asset prices, according to the SAFE. In a statement, the SAFE said that China economy continues to show signs of recovery and steady progress, providing support for maintaining the country’s stable foreign exchange reserves, CGTN reported.

On the same day, the People’s Bank of China, the country’s central bank, also released data showing that China’s gold reserves at the end of March reached 72.74 million ounces, up from 72.58 million ounces at the end of February, marking the 17th consecutive month with increasing gold reserves.