China Discusses Early 1980s Foreign Exchange Certificates

China's foreign exchange reserves have shown a increase, which the State Administration of Foreign Exchange attributes to a declining US dollar index and changes in asset prices. The National Administration of Foreign Exchange stated that the increase was primarily influenced by a decline in the US dollar index and changes in asset prices. China's State Administration of Foreign Exchange statistics show that as of the end of April this year, the country's foreign exchange reserve scale reached 34,105 (equivalent to approximately $3.41 trillion USD). A discussion on China's need for foreign exchange and gold reserves highlighted a $200 million appreciation in other currency holdings. The country's other currency holdings appreciated by approximately $20 billion due to a depreciation of the US dollar. China's central bank requires foreign exchange and gold reserves for international trade and as a strategic 'money bag' for critical situations.