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- China's foreign currency reserves slide in February - SAFE
China's foreign currency reserves slide in February - SAFE
Reuters reports that the People's Bank of China and State Administration of Foreign Exchange spokesperson Wang Chunyin said that the value of China's foreign currency reserves fell 0.18% to $3.205 trillion by the end of February, versus $3.211 trillion by the end of January. Meanwhile, the country's gold reserves barely moved at 62.6 million ounces.
Wang attributed the drop in China's foreign currency reserves to the effects of currency translation and changes in asset prices.
However, she said the country's foreign exchange market operated in line with market expectations.
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