(Yicai Global) April 8 -- China's foreign exchange reserves edged up USD8.6 billion to USD3.1 trillion in March, marking the fifth successive monthly rise.
The People's Bank of China attributed the rise to growing financial asset prices along with other factors in a statement.
China's forex reserve's special drawing rights rose by 21.7 billion monthly to 2.2 trillion for March.
The US dollar index edged up last month following the China-US trade talks, as well as adjusted expectations in currency policies in western countries and Brexit uncertainty, said Wang Chunying, press spokesperson at China's State Administration of Foreign Exchange, adding that financial asset prices also rose.
China's forex reserve rose incrementally due to the combined effect of the exchange rate and asset price alteration, he added.
The global economic situation is complicated and will see rising uncertainty and downward pressure on growth, while the financial asset price will stay high and the international financial market will see a greater possibility of volatility, Wang noted.
The Chinese economy will develop within a reasonable range and the exchange rate will gradually stabilize as the yuan exchange rate becomes more resilient, which is in favor of China's stable forex reserve overall.
China's gold reserves rose 360,000 ounces to 60.6 million ounces as of late March, marking a fourth consecutive month of growth, according to data from the central bank. However, the gold value declined as the price fell. The value contracted USD973 million to USD78.5 billion for the month.
Editor: William Clegg