China's foreign exchange reserves reached to four-year high

China's foreign exchange reserves reached to four-year high
  • Clock-gray 19:45
  • calendar-gray 07 December 2020

 China's foreign exchange reserves have reached 3,178 trillion dollars in November increasing 50 billion dollars, this is the highest figure since 2016, said People's Bank of China, APA Economics reports citing Bloomberg.

It was noted that the country's reserves have demonstrated growth for the first time in the last three months, but gold reserves have decreased this year and currently contains 110,4 billion dollars.

The representative of the State Administration of Foreign Exchange of China, Wang Chunying noted that the country's foreign currency reserves increase on the account of changes in rates and asset prices. He added that the administration predicts to be mainly stable of currency market of China.

 Recall that this year Chinese yuan against the US dollar increased by 6%. This is the greatest figure among Asian currencies.

Mirsaid İbrahimzade

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