China’s March forex reserves rise to $3.099 trillion By Reuters

0
32
© Reuters. Illustration photo of U.S. Dollar and China Yuan notes


© Reuters. Illustration photo of U.S. Dollar and China Yuan notes

BEIJING/SINGAPORE (Reuters) – China’s foreign exchange reserves rose for a fifth straight month in March as growing optimism about the prospects for a U.S.-China trade deal offset concerns over slowing economic growth.

Chinese reserves, the world’s largest, rose by $9 billion in March to $3.099 trillion, central bank data showed on Sunday.

Economists polled by Reuters had expected reserves would rise $5 billion to $3.095 trillion.

The yuan fell 5.3 percent against the dollar last year as trade relations with the United States deteriorated and the Chinese economy slowed. But it has rebounded over 2 percent so far in 2019 on hopes Washington and Beijing will reach an agreement to end their bruising trade war

In March, the yuan fell 0.3 percent against the dollar due to the strength of the greenback. The dollar was up 1 percent against a basket of major currencies.

U.S. and Chinese negotiators wrapped up their latest round of trade talks on Friday and were scheduled to resume discussions this week to try to secure a pact that would end a tit-for-tat tariff battle that has roiled global markets.

The value of China’s gold reserves fell slightly to $78.525 billion from $79.498 billion at the end of February.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here