This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/525872-china-forex-reserves-rise/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| China’s vast foreign reserves grow to $3.22 TRILLION | China’s vast foreign reserves grow to $3.22 TRILLION |
| (3 months later) | |
| Chinese gold and foreign currency reserves, the world’s largest, rose more than expected last month, according to official data published on Monday. | Chinese gold and foreign currency reserves, the world’s largest, rose more than expected last month, according to official data published on Monday. |
| The nation’s foreign exchange reserves increased by $23.62 billion to $3.22 trillion in May against $3.208 trillion seen in a Reuters poll of analysts and $3.198 trillion recorded in April. | The nation’s foreign exchange reserves increased by $23.62 billion to $3.22 trillion in May against $3.208 trillion seen in a Reuters poll of analysts and $3.198 trillion recorded in April. |
| The growth is partially attributed to the weakened US dollar. The Chinese national currency, the yuan, rose 1.6% against the greenback in May, while the dollar dropped 1.6% during last month versus a basket of other major currencies. | The growth is partially attributed to the weakened US dollar. The Chinese national currency, the yuan, rose 1.6% against the greenback in May, while the dollar dropped 1.6% during last month versus a basket of other major currencies. |
| China’s gold holdings stood at 62.64 million fine troy ounces at the end of May, unchanged from the previous month. The value of the gold reserves surged to $119.02 billion at the end of May from $110.73 billion in late April. | China’s gold holdings stood at 62.64 million fine troy ounces at the end of May, unchanged from the previous month. The value of the gold reserves surged to $119.02 billion at the end of May from $110.73 billion in late April. |
| The world’s largest forex reserves continued to rise as China has been gradually recovering from the pandemic-related crisis. Last month, the country’s imports grew at their fastest pace in 10 years, fueled by surging demand for raw materials. However, export growth slowed more than expected, weighed by disruptions caused by Covid-19 cases at the country’s major southern ports. | The world’s largest forex reserves continued to rise as China has been gradually recovering from the pandemic-related crisis. Last month, the country’s imports grew at their fastest pace in 10 years, fueled by surging demand for raw materials. However, export growth slowed more than expected, weighed by disruptions caused by Covid-19 cases at the country’s major southern ports. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |