At the end of March, the scale of our country's foreign exchange reserves rose by 1.62% month-on-month.

Xinhua News Agency, Beijing, April 10, "Economic Information Daily" published an article on April 10, "the scale of our country's foreign exchange reserves rose by 1.62% at the end of March". The article said that the statistics of the State Administration of Foreign Exchange show that as of the end of March 2023, the scale of our country's foreign exchange reserves was 3.1839 trillion US dollars, an increase of 50.70 billion US dollars from the end of February, an increase of 1.62%. The relevant person in charge of the foreign exchange administration said that under the combined effect of factors such as exchange rate conversion and asset price changes, the scale of foreign exchange reserves rose in the month. Looking forward to the future, industry insiders believe that the scale of our country's foreign exchange reserves will remain basically stable.

Wen Bin, chief economist at Minsheng Bank (3.460, 0.00, 0.00%), said that due to factors such as monetary policies and expectations of major economies, the US dollar index fell, and global financial asset prices generally rose. On the currency side, the US dollar index fell 2.3% to 102.5, and non-US dollar currencies generally appreciated. On the asset side, the US dollar-denominated hedged global bond index rose 2.2%; the S & P 500 stock index rose 3.5%. A combination of factors such as exchange rate translation and asset price changes, the scale of foreign exchange reserves rose.

Looking to the future, Wen Bin said that the current external environment is complex and severe, the world economic recovery is insufficient, the overall situation is not optimistic, and the uncertainty of international financial marekt has increased significantly. However, our country insists on taking the lead in stability, seeking progress while maintaining stability, and the endogenous power continues to increase. At the same time, the overall balance of payments is balanced.foreign exchange marketStable operation is conducive to maintaining basic stability in the scale of foreign exchange reserves.

Pang Ming, chief economist and research director of JLL Greater China, said that from the trend point of view, with various policies to stabilize the economy and stabilize growth effective, the macroeconomic recovery trend is becoming more and more clear, and the policy "bistability" orientation of stability and seeking progress while maintaining stability will continue to be reflected in the "three stability" of our country's current account and direct investment and other balance of payments situation, stable cross-border capital flows, and stable operation of the foreign exchange market, and ultimately provide a solid support for the overall stability of foreign exchange reserves.