China boosted its foreign exchange reserves, the world’s largest, by over $50 billion in one month. The holdings rose to the highest in more than four years to reach $3.178 trillion in November.
The forex reserves returned to growth for the first time in three months and hit the highest level since August 2016, according to data released by the State Administration of Foreign Exchange (SAFE) on Monday. The growth was stronger than analysts polled by Reuters predicted, as they expected the holdings to be nearly $30 billion lower.
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