China's foreign exchange reserves hit $3.2659 trillion at end of November

BEIJING (WAM)

China's foreign exchange reserves totaled $3.2659 trillion at the end of November, up by $4.8 billion, or 0.15 percent from the end of October, official data showed.

According to a statement from the State Administration of Foreign Exchange, both the US dollar index and global financial asset prices climbed last month, affected by the monetary policies of major economies, market expectations, and macroeconomic data.

Due to the combined effects of factors such as currency translation and changes in asset prices, China's foreign exchange reserves expanded last month, according to the statement.

The country's economic recovery is picking up momentum and market confidence is improving, and these factors are conducive to maintaining the stable scale of the country's foreign exchange reserves, the administration said.

According to data released Saturday by the People's Bank of China, the country's gold reserves increased to 72.96 million ounces at the end of November, up from 72.8 million ounces a month ago.