China Foreign Reserves Unexpectedly Climb to $3.21 Trillion

China’s foreign-exchange reserves unexpectedly increased as haven assets such as the Japanese yen appreciated amid the U.K.’s decision to leave the EU.

The world’s largest currency hoard rose by $13 billion to $3.21 trillion in June, the People’s Bank of China said in a statement Thursday. That compares with the $3.17 trillion median forecast of economists surveyed by Bloomberg. The yen, which China holds as part of its reserves, advanced by 7.3 percent against the dollar in June.

Source: http://www.bloomberg.com/news/articles/2016-07-07/china-reserves-rise-on-valuation-as-brexit-boosts-haven-demand

Recent Articles

Get your FREE BVC Info Pack and our other valuable reports!

  • Read detailed case studies
  • Discover what we can do for your business
  • Get other vital information about the valuation process you won’t find anywhere else.
  • No cost or obligation.
  • Your information is held in strict confidence and no part of it is sold, transferred or given to any other organization.
  • This field is for validation purposes and should be left unchanged.