China November foreign exchange reserves increase more than expected

 

China foreign-exchange reserves increased more than expected in November, according to official data released Monday.
The country’s hoard of foreign exchange rose by $51.51 billion to $3.178 trillion at the end of November, according to data released by the People’s Bank of China.

Economists polled by The Wall Street Journal had expected a $28 billion rise in reserves in November.

In October, China’s foreign-exchange reserves decreased by $14.58 billion.

In the last few months, the Chinese currency has appreciated against the USD. In November, the dollar fell 1.75% against the Chinese yuan and the dollar index dropped 2.1%, according to information provider Wind.

source: Trade