China's foreign exchange reserves experienced a slight dip in April, as reported by the State Administration of Foreign Exchange (SAFE) on Tuesday. The reserves decreased to $3.2008 trillion by the end of April, marking a $44.8 billion fall from the previous month, which is a 1.38 percent decline.
The decline was largely influenced by the strengthening of the U.S. dollar index, which led to a downward trend in global financial asset prices. These fluctuations in international financial markets and currency exchange rates contributed to the reduction in China's forex reserves.
Despite the decrease, SAFE emphasized China's robust economic foundation. The regulator highlighted the nation's resilience and diversified strengths, suggesting that China has the potential to maintain relative stability in its foreign exchange reserves even as market conditions evolve. This resilience underscores China's capacity to navigate through global economic uncertainties and market volatility.
Reference(s):
China's forex reserves dip in April amid global market fluctuations
cgtn.com
