SHANGHAI: China’s foreign exchange reserves increased in November, official data showed on Saturday, defying market expectations of a decline.
The country’s foreign exchange reserves – the world’s largest – grew by $5 billion last month to $3.266 trillion, above a Reuters forecast of $3.23 trillion and up from $3.261 trillion in October.
China’s central bank resumes gold purchases after six-month hiatus in Nov
The yuan weakened 1.8% against the dollar in November, while the dollar last month rose 1.8% against a basket of other major currencies.
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