China's forex reserves rise to highest since April 2018 - Bloomberg

Omkar Godbole FXStreet Contributor

China's foreign exchange reserves rose $182.3 billion in June to $3.119 trillion – the highest since April 2018 – the data released by the People's Bank of China showed on Monday.

The foreign currency holdings rose for the secnnd month amid potential capital inflows and positive valuation effects, according to Bloomberg. Notably, Yuan sell-off stalled in June, courtesy of rising hopes of US-China trade truce.

The value of China's gold reserves rose to $87.27 billion in June from $79.83 billion see at the end of May.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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