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China's forex reserves slightly drop in April

China's foreign exchange reserves saw a slight decline to 3.09495 trillion U.S. dollars in April, ending its five-month consecutive increase, official data showed Tuesday.

The amount decreased by 0.1 percent or 3.8 billion U.S. dollars from March, according to the State Administration of Foreign Exchange (SAFE).

Last month saw a 0.2 percent increase in the U.S. dollar index with global bond index roughly flat, the foreign exchange market kept within a reasonable range in April, said SAFE spokesperson Wang Chunying.

Meanwhile, the country's gold reserves amounted to 61.10 million ounces by the end of April, rising for a fifth consecutive month, according to the People's Bank of China (PBOC).

The reserves were valued at 78.35 billion U.S. dollars at the end of April, compared to 78.53 billion U.S. dollars at the end of March.

Thanks to stable domestic economy and policy guidance, cross-border capital movement will remain balanced and provide a solid foundation for the steady operation of China's forex market, said Wang.

(CGTN)

Business & Economy