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Markets

China forex reserves rise to $3.238 trillion in December

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BEIJING: China’s foreign exchange reserves rose in December, official data showed on Sunday, as the dollar fell against other major currencies.

The country’s foreign exchange reserves - the world’s largest - rose more than expected, by $66 billion to $3.238 trillion last month, above the $3.200 trillion tipped by a Reuters poll of analysts and up from $3.172 trillion in November.

yuan rose 0.52% against the dollar in December, while the dollar last month fell 2% against a basket of other major currencies =USD. China held 71.87 million fine troy ounces of gold at the end of December, up from 71.58 million ounces at the end of November.

China’s yuan inches lower

The value of China’s gold reserves rose to $148.23 billion at the end of December from $145.7 billion at the end of November.

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[email protected] Jan 07, 2024 06:22pm
Can pakistan bribe Chinese to get some grants. Lol
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test Jan 07, 2024 10:06pm
China must trade with russia,south america,africa,oic,mongolia,asean,central asia and south asia in Chinese official currency "Yuan". Dollar is an american currency and anyone using dollar would be considered a western puppet and anyone who is borrowing from IMF is also considered an american puppet and those countries who are trading in american dollar are pretty much vulnerable to sanctions. Europe created euro currency as a self defence measure against american dollar. China can convert 100% trade with friendly countries in yuan which are mentioned above in the form of BRI.
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test1 Jan 07, 2024 10:57pm
@[email protected], Don't use my country name in the name of begging. Remember it is always the elite class whe begs for dollars which include (politicians, generals, billionaires, policy makers, judges, media houses) are all belong to elite class. It was It is and It will always be about elite class. Elite class has a history of begging for 75 years and they are continuing to destroy the nation and its already tarnished image worldwide through begging and licking shoes. Let me tell you something straight forward From Liaquat to Ayub to Zia to Bhutto to Musharraf to Nawaz to Zardari to Niazi they all begged for dollars and licked american shoes. Believe me or not its up to you but all i am saying is the truth. Our elite class is manufacturing nothing i mean they are selling agricultural products and textiles, sending skilled workers to bring remmittances etc. Big companies have looted Pakistan for decades and decades and brought zero manufacturing and invesment. Have a nice day.
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