China Forex Reserves Largest in 14 Months

China's foreign exchange reserves rose more than expected to USD 3.205 trillion at the end of April 2023, up from USD 3.184 trillion in the prior month and above market expectations of USD 3.192 trillion, as the US dollar fell against other major currencies.

It was the largest foreign exchange reserves since February 2022.

The yuan fell 0.63% against the USD in April, while the dollar dropped 0.94% against a basket of other major currencies.

At the same time, the value of the gold reserves increased to USD 132.25 billion at the end of April from USD 131.65 billion at the end of March.