China has the world's largest foreign exchange reserves — and it just grew for the first time in 2022 as the US dollar strengthens
foreign exchangereserves, which are the world's largest, increased for the first time this year, state data shows.
- China's reserves rose by $80.6 billion last month to reach $3.13 trillion in May.
China's foreign exchange reserves — the world's largest — increased 0.26% in May from the prior month, marking the first increase this year.
The reserves rose by $80.6 billion to reach $3.13 trillion last month, the State Administration of Foreign Exchange (SAFE) reported Tuesday.
"The current external environment is still complex and severe, the global economy is facing increasing risks and challenges, and the international financial market is still subject to great uncertainty," said SAFE.
The growth, according to SAFE, stemmed mainly from exchanging other major
Last week, a Chinese official said the
"Yuan exchange rates are basically stable with two-way fluctuations," Pan Gongsheng said Thursday, according to the South China Morning Post. "Many market institutions believe it will become more difficult for the Fed to stabilize growth while controlling inflation."
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