China's foreign exchange reserves exceeded forecasts in June

China has the largest foreign exchange reserves in the world. According to the People’s Bank of China, in June their volume increased by $18.23 billion compared to May, reaching $3 trillion 119.23 billion. This is the highest figure since April last year. Experts have tentatively estimated the country's reserves at $3 trillion 103 billion. Due to the depreciation of the dollar and the rising cost of government bonds, the growth of foreign exchange reserves in the PRC was observed for two months in a row. The dollar index last month fell by 1.62%, and the yuan against the dollar fell by only 0.49%. Thus, in June, there was no need to use the reserves of the Central Bank of China. The Chinese Central Bank increased its gold reserves to 61.94 million troy ounces. Following the results of the 7th consecutive month, the volume of purchases of this precious metal grew.

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