Forex reserves edge down in Feb
China's foreign exchange reserves edged down to $3.2138 trillion by the end of February due to a stronger dollar and a fall in global financial markets, the State Administration of Foreign Exchange said on Monday.
The reserves saw a decline of $7.8 billion or 0.24 percent compared with the end of January, the SAFE said in a statement.
Wang Chunying, spokeswoman of the SAFE, said the country's foreign exchange reserves dipped as global financial markets shed while the dollar strengthened amid geopolitical tensions and anticipations of policy adjustments by major central banks. A stronger dollar has made reserves dominated by other currencies less valued in the dollar term.
Despite the complex external environment and higher volatility of international financial markets, the Chinese economy has been performing in a reasonable range conducive to keeping the amount of foreign exchange reserves stable, Wang said.
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