Chinese gold and currency reserves hit 6-year low

Baku. 7 February. REPORT. AZ/ Chinese foreign currency reserves fell by 12.3 billion USD or 4% in January and amounted to 2.998 trillion USD.

Report informs citing BBC News, Chinese gold and foreign currency reserves fell to the lowest level since February 2011. Main reason for the decrease was strengthening of the USD exchange rate in the global currency market. Thus, it led to depreciation of other assets.

Notably, maximum level of China's gold and foreign currency reserves recorded in June 2014 (3,99 tln USD). At present, the reserves fell by 25% below the record high. In December, China's currency reserves declined 41 billion USD.

Totally, Chinese currency reserves fell by 320 billion USD or 9.6% in 2016.