China's foreign exchange reserves have grown up to the highest level

16:48 - 8.06.2021


June 8, Fineko/abc.az. China's foreign exchange reserves increased up to $3.22 trillion in May due to a weaker dollar and rising demand for the yuan.

ABC.AZ reports that this is the highest level since January 2016.

Experts believe that the presence of China's largest foreign exchange reserve in the world is the greatest mechanism to protect the country from possible speculative currency attacks.

The yuan closed at its highest level since 2018 against the US dollar last month.

 

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