China Foreign Exchange Reserves Rose as Dollar Weakened in January

China's foreign-exchange reserves rose in January, official data showed Tuesday, amid a weakening U.S. dollar.

The reserves rose by $56.8 billion from a month earlier to $3.184 trillion, said the State Administration of Foreign Exchange. The rise was wider than the $26 billion increase expected by economists polled by The Wall Street Journal.

Economists said the increase might have come from the sizable capital inflow into China's stock market and a weakening U.S. dollar that could have inflated non-dollar assets in the reserves.

The foreign exchange regulator said in an online statement that China's economic recovery is sustainable, which could stabilize the nation's foreign exchange.

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(END) Dow Jones Newswires

02-07-23 0345ET