Views: 2 Author: Site Editor Publish Time: 2020-12-10 Origin: Site
On December 7, the official reserve assets data released on the website of the People's Bank of China showed that by the end of November, China's foreign exchange reserve volume was 3,178.499 billion US dollars, and the value at the end of October was 3,127.982 billion US dollars, up by 50.5 billion US dollars or 1.61%.
Source: Central Bank website
Gold reserves stood at 62.64m ounces, unchanged so far this year.
Wang Chunying, deputy director of the State Administration of Foreign Exchange and spokesperson of the State Administration of Foreign Exchange, pointed out that China's foreign exchange market operated steadily in November, market expectations remained stable and the overall cross-border fund flows were balanced.
On the international financial market, affected by COVID-19 epidemic, vaccine development progress, and monetary and fiscal policy expectations of major countries, the US dollar index fell, non-US dollar currencies generally rose, and asset prices such as stocks and bonds of major countries rose.
As a result of the combined effect of exchange rate conversion and asset price changes, the scale of foreign exchange reserves rose in that month.
Wang chunying noted that the COVID-19 epidemic is still spreading around the world, the instability and uncertainty in the world economy are significantly increasing, and the risks and challenges in the international financial market are significantly increasing.
It is expected that China's foreign exchange market will present a basically stable and two-way fluctuation pattern in the future.