China's foreign exchange reserves rose to 3.1121 trillion U.S. dollars by the end of June from 3.1106 trillion U.S. dollars a month earlier, ending a streak of decline since April, data from the central bank showed Monday.
The country's forex regulator, the State Administration of Foreign Exchange (SAFE), attributed the slight increase to strong greenback and rising global asset prices.
In June, the yuan suffered its worst month on record, falling 3.25 percent against the U.S. dollar. June also represented the worst month for Chinese stocks in more than two years.
SAFE said in the commentary on Friday it expects the country’s foreign exchange reserves to remain stable, despite rising trade protectionism and Federal Reserve interest rate increases.?
The value of China’s gold reserves fell to 74.071 billion dollars at the end of June, from 77.323 billion dollars at the end of May.
