China’s foreign-exchange reserves declined $25.8 billion to $3.188 trillion at the end of March due to the combined effect of a retreat in the exchange rates of non-dollar currencies against the U.S. dollar and changing asset prices, the People’s Bank of China said Thursday.
The result marked the third consecutive monthly decrease in forex reserves. It slightly beat the expectations of economists polled by The Wall Street Journal, which estimated the country’s forex reserves to drop to $3.183 trillion.
In March, China’s cross-border capital inflow rebounded and the supply and demand of the foreign-exchange market remained balanced, said Wang Chunying, a spokesperson for the country’s forex regulator.
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(END) Dow Jones Newswires
April 07, 2022 04:39 ET (08:39 GMT)
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