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China’s foreign exchange reserves climbed back above $3.1 trillion at the end of November and increased by the most since November 2013, according to data released by the State Administration of Foreign Exchange (SAFE) on Wednesday.
China’s foreign exchange reserves stood at $3.12 trillion at the end of November, rising by $65.1 billion, or 2.1 % from the previous month, according to the data.
Impacted by global macroeconomic data, monetary policy expectations of major economies and other factors in November, the dollar index fell, while global financial assets prices rose, the SAFE said.
In November, the US dollar index fell by about 5% and weakened by about 3.9% against the Chinese yuan. The greenback also weakened by about 7% against the Japanese yen.
China’s gold reserves rose to 63.67 million ounces at the end of November, compared with 62.64 million ounces at the end of October this year, showed the data.