16:27 - 8.05.2023

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May 8, Fineko/abc.az. China's foreign exchange reserves rose more than expected in April as the dollar fell against other major currencies.

ABC.AZ reports that China's foreign exchange reserves, the largest in the world, increased by $21 bn in April, to $3.205 trillion compared with $3.184 trillion a month earlier.

Analysts on average predicted an increase to $3.192 trillion, according to Trading Economics.

The April level of reserves is the highest since February 2022.

The yuan exchange rate fell by 0.63% against the US national currency last month. Meanwhile, the dollar fell by 0.94% against a basket of major world currencies.