China’s forex reserves hit $3.1 trillion
July 12th, 2011 - 9:59 pm ICT by IANSBeijing, July 12 (IANS) China’s foreign exchange reserves rose 30.3 percent year-on-year to hit $3.1975 trillion by the end of June, authorities said Tuesday.
The People’s Bank of China, or the central bank, said that funds outstanding for foreign exchange in financial institutions increased 277.33 billion yuan ($42.83 billion) over the May to June period to hit 24.67 trillion yuan, reported Xinhua.
Foreign exchange reserves stood at $3.166 trillion and $3.1458 trillion by the end of May and April, respectively.
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Tags: authorities, bank of china, beijing, financial institutions, foreign exchange reserves, forex reserves, trillion, xinhua, yuan