China’s forex reserves rise to $3.22 trillion

BEIJING: China´s foreign exchange reserves rose in April to $3.22 trillion, central bank data showed on Saturday, marking a second monthly rise this year and suggesting the central bank is easing off its interventions as capital outflows ease.

Economists surveyed in a Reuters poll had expected foreign exchange reserves to fall to $3.2 trillion.

The central bank data also comes after a surprise increase in March when foreign exchange reserves rose slightly to $3.21 trillion, the first monthly increase since November.

Prior to that, foreign reserves had dropped $28.57 billion in February to $3.2 trillion, the lowest since December, 2011.While China´s reserves have declined steadily since June 2014 when they peaked at $3.99 trillion, the trend has since moderated, according to recent official data.