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China's Foreign Exchange Reserves Increase in December

China's foreign exchange reserves saw an increase in December, according to official data.

Chinese Yuans and Dollars
Chinese Yuan Banknotes and Dollar Bills

The reserves, which are the largest in the world, rose by $11 billion to reach $3.128 trillion. This is compared to the $3.154 trillion predicted by a Reuters poll of analysts and the $3.117 trillion recorded in November.

The Yuan saw a 2.8% increase against the dollar in December, while the Dollar fell by 2.3% against a basket of other major currencies.

The amount of gold held by China at the end of December was 64.64 million fine troy ounces, a decrease from the end of November. However, the value of China's gold reserves rose to $117.24 billion at the end of December, up from $111.65 billion at the end of November.