Dollar Gains Take a Bite Out of World's Biggest Foreign Reserves
- Stockpile fell $18 billion to five-month low of $3.12 trillion
- ING economist sees holdings remaining largely balanced in 2018
This article is for subscribers only.
China’s foreign-currency stockpile declined more than estimated last month as a stronger dollar weighed on holdings denominated in the euro and yen.
Reserves fell $18 billion to a five-month low of $3.12 trillion in April, the People’s Bank of China said Monday. That was below the $3.13 trillion estimate in Bloomberg’s survey of economists and down from $3.14 trillion in March.