Daily Times

China’s foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies. The country’s foreign exchange reserves – the world’s largest – rose $21 billion to $3.205 trillion last month, compared with $3.192 trillion tipped by a Reuters poll of analysts and $3.184 trillion in March. The yuan fell 0.63 per cent against the dollar in April, while the dollar last month fell 0.94 per cent against a basket of other major currencies. China held 66.76 million fine troy ounces of gold at the end of April, rising from 66.50 million ounces at end-March. The value of China’s gold reserves rose to $132.35 billion at the end of April from $131.65 billion at the end-March.