The country’s reserves, already by far the largest in the world, increased by $194bn in the past three months to $2,650bn, eclipsing the previous record rise of $178bn in the second quarter of 2009.
EDITOR’S CHOICE
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The recent strengthening of the euro and yen against the US dollar explains some of the increase because China’s reserves are expressed in dollars but invested in a range of currencies and assets.
Wednesday, October 13, 2010
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