China's forex reserves rise in March

BEIJING - China's foreign exchange reserves stood at $3.1428 trillion in March, up slightly from a month earlier, revealed data from the People's Bank of China on Sunday.

China's foreign currency reserves rose $8.34 billion from a month earlier to $3.1428 trillion at the end of March, the People's Bank of China (PBOC) said Sunday.

The market had widely expected China's foreign currency reserves to be $3.146 trillion.

The increase in March reversed a slight decline seen in February 2018.

Previously, the reserves gained for 12 consecutive months between February 2017 and January 2018.

According to the PBOC data, China's gold reserves in March remained unchanged at 59.24 million ounces, with a higher value of $78.42 billion, up from $78.06 billion in February.