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China's forex reserves up in November

Updated: December 8, 2023 Source: Xinhua News Agency
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File photo shows a teller picks a dollar bill among banknotes of U.S. dollar and renminbi (RMB) at a bank in Linyi, east China's Shandong Province, July 22, 2011. (Xinhua/Zhang Chunlei)

BEIJING, Dec. 7 (Xinhua) -- China's foreign exchange reserves came in at 3.1718 trillion U.S. dollars at the end of November, up from 3.1012 trillion dollars at the end of October, the State Administration of Foreign Exchange said Thursday.

The country's foreign exchange regulator attributed this increase to the combined impact of currency translation and asset price changes.

The U.S. dollar index fell in November, and the prices of global financial assets increased, affected by the monetary policy expectations of major economies and their macroeconomic data, the regulator said.

China's economy has strong resilience, huge potential and ample room for maneuver, the regulator said, adding that the sound fundamentals of its economy remain unchanged, which is conducive to maintaining the stable scale of forex reserves.

Editor: Duan Jing