(Adds details, official comment)
BEIJING, Feb 7 (Reuters) - China's foreign exchange
reserves rose $56.8 billion to $3.184 trillion in January,
official data showed on Tuesday, as the dollar fell against
other major currencies and global financial asset prices rose.
The country's foreign exchange reserves - the world's
largest - rose from $3.128 trillion in December. The rise was
more than expected. A Reuters poll of analysts had forecast
reserves totalling $3.152 trillion for January.
The yuan rose 2.2% against the dollar in January,
while the dollar fell 1.4% against a basket of other major
currencies .
"China's economy continues to recover, showing a rebound
trend, and the endogenous driving force continuously
strengthens, which is conducive to keeping foreign exchange
reserves basically stable," the foreign exchange regulator said
in a statement.
China's foreign exchange reserves fell $112.5 billion in
2022, when the yuan dropped 7.9% against the dollar, its biggest
annual drop since 1994.
The Chinese currency has rebounded this year, as the dollar
weakens and China's economy picks up following an abrupt
abolition of stringent COVID curbs in early December.
China held 65.12 million fine troy ounces of gold at the end
of January, up from 64.64 million ounces at the end of December,
central bank data showed.
The value of China's gold reserves rose to $125.28 billion
at the end of January, from $117.24 billion at the end of
December.
(Reporting by Albee Zhang and Kevin Yao; Editing by Simon
Cameron-Moore)
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