China's November FX reserves rise unexpectedly to $3.266 trln

Reuters
2024-12-07

SHANGHAI, Dec 7 (Reuters) - 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.

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 .

(Reporting by Qiaoyi Li, Winni Zhou and Ryan Woo; Editing by William Mallatrd)

((qiaoyi.li@thomsonreuters.com;))

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