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    China FX Reserves Rise to $3.128 Trillion

    Julius AlagbeBy Updated:No Comments1 Min Read
    China FX Reserves Rise to $3.128 Trillion

    China FX Reserves Rise to $3.128 Trillion

    China’s foreign exchange (FX) reserves inched upward in December, 2022 official data showed on Saturday, as the dollar fell against other major currencies despite pressures facing the economy from ravaging coronavirus.

    The country’s foreign exchange reserves – which is currently the world’s largest – rose $11 billion to $3.128 trillion last month, compared with $3.154 trillion predicted by a Reuters poll of analysts and $3.117 trillion in November.

    The Yuan rose 2.8% against the dollar in December, while the dollar last month fell 2.3% against a basket of other major currencies. Data show that China held 64.64 million fine troy ounces of gold at the end of December, down from end-November.

    The value of China’s gold reserves rose to $117.24 billion at the end of December from $111.65 billion at end-November. # China FX Reserves Rise to $3.128 Trillion

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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