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China’s foreign currency reserve declined as Dollar gained in Jan 2021

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China’s foreign currency reserve declined as Dollar gained in Jan 2021

timestampFeb 07, 2021 authorAlShorts Web Desk

Foreign currency reserve of China witnessed decline in January due to valuation effects after Dollar recorded gains at the same time. It dropped to USD3.211 trillion as the US Dollar climbed 0.7% against other currencies. China has the largest foreign exchange reserve in the world and in 2015 Dollar accounted for 58% of China's reserves.

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