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China's Foreign-Exchange Reserves Rose in June

China's foreign-exchange reserves rose in June from a month earlier, following a one-month decline, official data showed on Friday.

Foreign-exchange reserves rose by $16.5 billion to $3.193 trillion in June, said the People's Bank of China. The result was also higher than the $3.180 trillion anticipated by economists surveyed by The Wall Street Journal.

June's increase was likely due to valuation gains as outflow pressure may have risen since the yuan weakened versus the U.S. dollar, the surveyed economists said.


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(END) Dow Jones Newswires

July 07, 2023 04:28 ET (08:28 GMT)

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