The volume of China’s foreign exchange reserves fell to $3.2 trillion in February

Almaty. March 9. Silkroadnews - The volume of China’s foreign exchange reserves decreased to $3.2 trillion in February, TASS agency reports.
“The volume of China’s foreign exchange reserves in February decreased by $28.6 billion down to $3.2 trillion. Such a decrease turned to be bigger versus the experts’ expectations of reduction to $31.9 trillion,” - the publication says.
The report by the People’s Bank of China (Central Bank) informs last month the volume of gold reserves in China increased by 11.6% and amounted to $71 billion.
At the same time deputy director of the Central Bank Yi Gang said “currently the reserves level is acceptable”.
Over the past 10 years, China’s foreign exchange reserves grew rapidly due to the export of the Chinese goods. Since 2014 the volume of reserves began to decline because of the reduced foreign demand for Chinese goods, as well as the slowdown of the economy and changes in the international financial market, publication notes.
The most significant reduction in China’s foreign exchange reserves happened in the second half of last year.