Financial and business news from Bulgaria

In March, China's foreign exchange reserve has noted a slight decline

At the end of March, China's foreign exchange reserves stood at $3.17 trillion, representing a fall of 1.09%, or 35 billion, compared to the previous month, according to latest data from the State Monetary Government, Radio China reported.
Deputy Director of Management Wan Chunin said that in March the foreign exchange market was stable. Internationally, because of the COVID-19 pandemic and the fiscal policies of major economies, the dollar index has risen, the value of government securities issued by major economies has declined, and global exchanges have surged. All these and some other factors have led to a decline in the Chinese currency reserve.

Wan Chunin also pointed out that at the moment the pandemic abroad is still serious. The recovery of the global economy and the international currency market will continue in the face of uncertainty. The development of the domestic economy is constantly intensifying, thus increasing the positive factors significantly, and this is important for the stability of the state's foreign exchange reserve, he added.

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