China's foreign-exchange reserves rose by $28 billion to $3.250 trillion in December, thanks to positive capital inflows which offset the effect of the dollar's depreciation, the People's Bank of China said Friday.
The result marked the third consecutive monthly rise in reserves, and was the opposite to the consensus $2 billion decrease expected by economists polled by The Wall Street Journal. The nation's forex reserves--the world's largest--rose from $3.222 trillion at the end of November, according to the PBOC.
"The dollar index fell, and the prices of financial assets in major countries reported different rising and falling trends," said Wang Chunying, a spokeswoman for China's foreign-exchange regulator.
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(END) Dow Jones Newswires
01-07-22 0350ET
