China’s foreign exchange reserves came in at 3.1839 trillion U.S. dollars at the end of March, up 1.62 percent from a month earlier, according to the State Administration of Foreign Exchange on Friday.
The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation and asset price changes.
Affected by monetary policy and expectations of major economies, the U.S. dollar index fell, and the prices of global financial assets climbed last month, the regulator said.
It added that China’s foreign exchange reserves are expected to stay generally stable as the country has solid economic foundations and broad prospects for development
