China’s forex reserves rise for third month in a row | Touch Latest Local,World,Tech,Entertainment,Health,Sport News
21 February 2018 00:00:00 AM Breaking News

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China’s forex reserves rise for third month in a row

China’s forex reserves rose for the third month in a row in April, signaling eased capital flight pressure, central bank data showed on Sunday.

Forex reserves climbed to 3.0295 trillion U.S. dollars at the end of April from 3.0091 trillion dollars a month earlier, according to statistics from the People’s Bank of China.

This was the first time the reserves have expanded for three months consecutively since June 2014.

The State Administration of Foreign Exchange (SAFE) predicted last month that the size of forex reserves would become more stable in the future as the economy maintains relatively fast growth and the country’s current account surplus stays in a reasonable range.

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