China fx reserves rise $11 billion to $3.128 trillion in December

China fx reserves rise $11 billion to $3.128 trillion in December

© Reuters. U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration

BEIJING (Reuters) – China’s foreign exchange reserves rose in December, official data showed on Saturday, as the dollar fell against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose $11 billion to $3.128 trillion last month, compared with $3.154 trillion predicted by a Reuters poll of analysts and $3.117 trillion in November.

The yuan rose 2.8% against the dollar in December, while the dollar last month fell 2.3% against a basket of other major currencies.

China held 64.64 million fine troy ounces of gold at the end of December, down from end-November.

The value of China’s gold reserves rose to $117.24 billion at the end of December from $111.65 billion at end-November.

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