The overall stability of the foreign exchange market in December increased by 38 billion U.S. dollars from the end of November

　　China News Service, January 7th. According to the State Administration of Foreign Exchange, Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, answered reporters’ questions on the changes in the scale of foreign exchange reserves in December 2020. Stable, rational and orderly market transactions.

The scale of foreign exchange reserves was 3216.5 billion US dollars, an increase of 38 billion US dollars from the end of November, an increase of 1.2%.

　　A reporter asked: The State Administration of Foreign Exchange has just released the latest data on the scale of foreign exchange reserves.

May I ask what caused the change in the scale of foreign exchange reserves in December 2020?

What is the future trend of the scale of foreign exchange reserves?

　　In this regard, Wang Chunying said that as of the end of December 2020, my country’s foreign exchange reserves amounted to USD 3216.5 billion, an increase of USD 38 billion or 1.2% from the end of November.

　　In December, my country's foreign exchange market was generally stable, and market transactions were rational and orderly.

In the international financial market, affected by the progress of the new crown pneumonia vaccine, the monetary and fiscal policies of major countries, the US dollar index fell, and the prices of non-US dollar currencies and major national asset prices increased.

Foreign exchange reserves are denominated in U.S. dollars, and the amount of non-U.S. currencies converted into U.S. dollars increases. Coupled with the combination of rising asset prices and other factors, the scale of foreign exchange reserves increased during the month.

　　Wang Chunying pointed out that looking forward to the future, the world economic situation is complex and severe, the derivative risks caused by the impact of the epidemic cannot be ignored, and there are still many uncertainties in the international financial market.

However, my country's foreign exchange market has conditions to continue to maintain stable and balanced operations, and the scale of foreign exchange reserves will also be generally stable.