Foreign exchange reserves up in April

China's foreign exchange reserves totaled $3.4105 trillion at the end of April, up by $68.4 billion, or 2.05 percent, compared to the end of March, official data showed. The combined effects of currency translation and asset price changes led to the increase in China's foreign exchange reserves in April, the State Administration of Foreign Exchange said in a statement. It also added that as China continued with efforts to consolidate and expand the momentum of steady economic growth, the resilience and vitality of the Chinese economy have contributed to the stability of the country's foreign exchange reserves.

Yuan weakens against greenback

The central parity rate of the yuan weakened 15 pips to 6.8502 against the US dollar on Friday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

Xinhua - China Daily