China’s forex reserves rise in February as dollar gains

SHANGHAI: China’s foreign exchange reserves rose to $3.428 trillion at the end of February, central bank data showed on Saturday, as the dollar took a reprieve after a months-long decline.

The country’s foreign exchange reserves, the world’s largest, matched a Reuters poll forecast of $3.4 trillion and were up from $3.399 trillion at the end of January.

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The dollar advanced 0.51% against a basket of major currencies last month, while China’s yuan rose 1.35% against the U.S. currency.