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29.05.2024
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China's foreign exchange reserves continued to decline in April

79e5865f 4724 30af 9479 46ef330bf096The deputy head of the State Administration of Currency Control of the People's Republic of China, Wang Chunying, announced a decrease in reserves by $ 68.3 billion, TASS writes .

The People's Bank of China (CB) in April again recorded a reduction in national currency reserves. As the deputy head of the State Administration of Currency Control of the People's Republic of China Wang Chunying reported on Saturday, they decreased by $68.3 billion (-2.14%) compared to March, to $3.119 trillion.
Thus, the negative dynamics turned out to be almost three times more significant than in March. Then the corresponding indicator decreased by $25.8 billion (-0.8%) compared to February.
"Foreign exchange reserves decreased last month, which is due to a decrease in the value of non-dollar currencies after their conversion into the US monetary unit, which is used to assess the value of the currency basket," the deputy head of the department said in a statement. As she clarified, another factor that led to the decline was the fluctuation in asset prices on the market.
"The value of global financial assets has significantly decreased, which is due to the expected monetary policy measures of the leading states, the geopolitical situation in the world, the coronavirus pandemic and a noticeable increase in the dollar index," Wang Chunying explained. According to her, China still records a net inflow of cross-border capital.