China’s Foreign Exchange Reserves Cross $2 Trillion
China’s foreign-exchange reserves exceeded $2 Trillion for the first time as per the data released this week.
Source: The Wall Street Journal
From the WSJ:
“The stockpile — the world’s largest currency reserves — grew by $177.87 billion in the quarter to $2.132 trillion, the largest quarterly rise on record. In May, China also increased its importance for U.S. policy makers, lifting its Treasury holdings by $38 billion to a total of $801.5 billion.
While Japan and Russia cut their Treasury holdings in May, China ramped up its purchases, posting the biggest one-month increase since October. China now has more than 20% of total Treasury holdings among foreign central banks and nearly matches the total amount Japan and Russia hold together.”
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