China’s Foreign Exchange Reserves Reach USD 3.2224 Trillion

China's foreign exchange reserves stood at 3.2224 trillion US dollars at the end of June this year. The amount shrank by 0.3 percent compared with the previous month, the State Administration of Foreign Exchange (SAFE) said, attributing the decrease to the combined impact of currency translation and asset price changes. Affected by various factors such as major economies monetary policies, market expectations and macroeconomic data, the US dollar index and global financial asset prices climbed in June, the SAFE explained. The regulator said that the Chinese economy has sustained its recovery momentum and continued its high-quality development, which is conducive to maintaining the stable scale of the countrys foreign exchange reserves. According to data released Sunday by the Peoples Bank of China, the country's gold reserves remained unchanged in June at 72.8 million ounces, equivalent to about 169.7 billion US dollars. Source: Qatar News Agency