BEIJING, April 7 China's foreign exchange
reserves rose slightly in March, though by a bit less than the
market expected, as capital control measures and a pause in the
dollar's rally helped contain capital outflows.
Reserves rose $3.96 billion during March to total $3.009
trillion, compared with an increase of $6.92 billion in
February, when reserves rebounded to $3.005 trillion, rising for
the first time in eight months.
Economists polled by Reuters had expected foreign exchange
reserves to rise by $5 billion to $3.01 trillion in March.
China has tightened rules on moving capital outside the
country in recent months as it seeks to support the yuan
currency and stem a slide in its foreign exchange
It burned through nearly $320 billion of reserves last year
but the yuan still fell about 6.5 percent against the dollar,
its biggest annual drop since 1994.
The yuan's performance against the dollar has been steady in
recent weeks. The ongoing meeting between U.S. President Donald
Trump and Chinese President Xi Jinping is expected to have an
impact on the yuan's value in the medium term.
Gold reserves value fell to $73.74 billion at the end of
March, from $74.376 billion at end-February, data published on
the People's Bank of China website also showed.
(Reporting by Cheng Fang; Editing by Richard Borsuk)