China’s foreign-exchange reserves edged lower last month as the yuan faced continued depreciation pressure amid a strengthening U.S. dollar.
The country’s foreign-exchange reserves totaled $3.201 trillion at the end of April, down 1.4% from the previous month, the State Administration of Foreign Exchange said Tuesday.
A combination of factors, such as the exchange rate and asset-price changes, contributed to the decline, the forex regulator said.
A Wall Street Journal poll of economists had expected reserves to fall to $3.230 trillion from $3.246 trillion in March.
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(END) Dow Jones Newswires
05-07-24 0624ET
