China’s forex reserves grow more than expected in January

BEIJING: China’s foreign exchange reserves rose more than expected in January, official data showed on Saturday, as the dollar declined.

The country’s foreign exchange reserves, the world’s largest, rose to $3.399 trillion last month, exceeding the $3.372 trillion forecast in a Reuters poll. The reserves totalled $3.358 trillion in December.

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The yuan rose 0.45% against the dollar last month, while the dollar softened 1.15% against a basket of major currencies.