China Forex Reserves Rose In April, Gold Reserves Increased for Six Months in a Row

According to statistics from the State Administration of Foreign Exchange, as of the end of April 2023, China’s foreign exchange reserves were $3.204.8 trillion, an increase of $20.9 billion, or 0.66%, from the end of March.

In April 2023, affected by factors such as global macroeconomic data and monetary policy expectations of major economies, the U.S. dollar index fell, and global financial asset prices generally rose.

Under a combination of exchange rate conversion and asset price changes, the scale of foreign exchange reserves increased in April.

China is focusing on promoting high-quality development, and economic development is showing a positive trend of recovery, which helps to maintain the stability of the scale of foreign exchange reserves.

In addition, as of the end of April, the PBOC’s gold reserves stood at 66.76 million ounces, an increase of 260,000 ounces from the previous month.

This is also the sixth consecutive month that the central bank's gold reserves have increased.

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