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China's foreign exchange reserves fall to $3.2 trillion in April

Xinhua | Updated: 2024-05-08 10:58

A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. [Photo/China Daily]

BEIJING - China's foreign exchange reserves fell to $3.2 trillion at the end of April, down 1.38 percent from the end of March, the State Administration of Foreign Exchange said on Tuesday.

The country's foreign exchange regulator attributed this decrease to the combined impact of currency translation and asset price changes.

The US dollar index rose and the prices of global financial assets declined last month, affected by the monetary policy expectations of major economies and their macroeconomic data, the regulator said.

China's economy has a solid foundation, strong resilience and huge potential, which is conducive to maintaining the stable scale of its forex reserves, the regulator added.

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