China Foreign Reserves Increase in April on Yuan Sentiment
- Currency hoard increases by $7.089 billion to $3.22 trillion
- Economists surveyed by Bloomberg had expected $3.20 trillion
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China’s foreign-exchange reserves increased for the second month in a row as market sentiment toward the yuan improved and a stronger yen and euro boosted the headline number.
The world’s largest currency hoard rose by $7.089 billion to $3.22 trillion in April, the People’s Bank of China said in a statement Saturday. That compares with the $3.20 trillion expected by economists surveyed by Bloomberg.