China’s foreign exchange reserves rose to $3.24 trillion in March

Official data showed on Sunday that China’s foreign exchange reserves rose in March even as the dollar rose against other major currencies.

According to Reuters, China’s foreign exchange reserves – the largest in the world – increased by $19.8 billion to reach $3.24 trillion last month, compared to $3.22 trillion in February. Analysts expected in a survey that reserves would swallow $3.21 trillion in March.

The yuan fell 0.47% against the dollar in March, while the dollar rose 0.31% against a basket of other major currencies last month.

China owned 72.74 million ounces of gold at the end of March, up from 72.58 million ounces at the end of February.

The value of China’s gold reserves increased to $161.07 billion at the end of March from $148.64 billion at the end of February.