BANK OF CHINA LIMITED China's foreign-exchange reserves rose in November, official data showed, thanks to a continued trade surplus and other valuation effects.
The country's hoard of foreign exchange, the world's biggest, was $3.117 trillion in November, up $65.1 billion from October, the People's Bank of China said Wednesday. The result was slightly lower than the $3.122 trillion expected by economists polled by The Wall Street Journal.
The higher reserves came after China reported a smaller-than-expected trade surplus of $69.84 billion earlier Wednesday.
Economists said a weaker U.S. dollar in the month likely inflated the value of nondollar assets held under China's forex reserves, which also got a boost from capital inflows through stock markets.
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12-07-22 0348ET
