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China's Foreign-Exchange Reserves Rose in December

The Wall Street Journal · 01/07/2023 00:38

China's foreign-exchange reserves rose in December amid eased capital outflows and the weakening U.S. dollar, according to official data released Saturday.

The hoard of foreign exchanges rose $10.2 billion from the prior month to $3.128 trillion in December, said the People's Bank of China. The rise was smaller than the $31 billion increase expected by economists polled by The Wall Street Journal.

China's foreign-exchange regulator said in a separate statement after the data that the rise was due to the falling U.S. dollar, declining global financial assets and valuation effect. The regulator also said China's economy was resilient while its fundamentals of long-term growth haven't changed, which could stabilize the nation's foreign exchange.

(END) Dow Jones Newswires

January 07, 2023 00:38 ET (05:38 GMT)

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