April 14, 2009

China Forex Reserves Near $2 Trillion

The Chinese central bank (the People's Bank of China) reported yesterday that official foreign exchange reserves continue to grow - albeit more slowly - and passed $1.95 trillion (US dollars) at the end of March. Most of the Chinese hoard is denominated in dollar bills but rumours persist that China is interested in all of the anticipated IMF gold sales of over 400 tons ....

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