Download
China's forex reserves rise in November on weaker U.S. dollars
CGTN

Translating...

Content is automatically generated by Microsoft Azure Translator Text API. CGTN is not responsible for any of the translations.

China's foreign exchange reserves rose to $3.1175 trillion at the end of November, up 2.13 percent from a month earlier, data from the State Administration of Foreign Exchange showed Wednesday.

The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation and asset price changes.

Affected by monetary policy expectations and macroeconomic data of major economies, the U.S. dollar index fell, and the prices of global financial assets climbed last month, the regulator said.

"When the U.S. dollar weakens, many other currencies that China holds in foreign reserves appreciate against the greenback, pushing up the total scale up," Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times.

He predicts that China's foreign exchange reserves will likely increase further next year since the U.S. dollar is burdened with further depreciation pressure in 2023, in addition to the economic decline of the U.S.

The regulator added that China's foreign exchange reserves are expected to stay generally stable as the Chinese economy has maintained its recovery momentum.

(Cover: CFP)

(Source: With input from Xinhua)

MORE FROM CGTN

China's people-centered policies drive economic growth and well-being
{"type":2,"value":"Xie Huihua","commentator":[],"valueShow":true,"commentatorShow":false}

Economy

10:18, 18-Mar-2025

China's new policies help stabilize stock and real estate markets
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

China

12:34, 17-Mar-2025

{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

Business

12:26, 17-Mar-2025

{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

Video

11:36, 17-Mar-2025

TOP NEWS

Xi Jinping visits ethnic village in Guizhou for rural revitalization
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

Politics

03:09, 18-Mar-2025

Chinese economy off to robust start in 2025 as growth gains momentum
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

China

14:54, 17-Mar-2025

Maritime routes tense 'as long as Houthis control Yemen's coast'
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

World

00:56, 18-Mar-2025

Search Trends