China's foreign-exchange reserves fell by more than expected at the end of 2024 as the yuan faced increased downward pressure amid a cooling economy and rising trade tensions.

Foreign-exchange reserves dropped $63.5 billion to $3.202 trillion in December, the People's Bank of China said Tuesday.

The fall was bigger than the $20 billion decline estimated by economists in a Wall Street Journal poll.

China's foreign-exchange regulator said Tuesday after the data release that a strong U.S. dollar and falling global financial asset prices weighed on national reserves last month, but that their size will remain stable as the economy steadies.


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