China’s foreign exchange reserves increased to its highest level in more than four years in November, data from the People’s Bank of China showed on Monday.
Forex reserves rose about $50.5 billion to $3.178 trillion at the end of November. This was the highest level since August 2016.
However, the value of gold reserves decreased to $110.4 billion at the end of November.
Data released earlier in the day showed that exports advanced 21.1 percent on a yearly basis in November, while imports grew moderately by 4.5 percent, resulting in a surplus of $75.4 billion.
The material has been provided by InstaForex Company – www.instaforex.com