March 7, 2019 / 8:45 AM / 4 months ago

China Feb forex reserves edge higher to $3.09 trln

BEIJING, March 7 (Reuters) - China’s foreign exchange reserves rose slightly in February as growing optimism over U.S.-China trade talks buoyed the yuan currency for a fourth straight month, easing worries about capital outflows from the slowing economy.

Chinese reserves rose by $2.26 billion in February to $3.090 trillion, central bank data showed on Thursday.

Economists polled by Reuters had expected reserves would fall $920 million to $3.087 trillion.

The yuan gained 0.1 percent against the dollar in February, and is up more than 2 percent so far this year. The dollar index rose 0.6 percent in February.

The United States and China appear close to a deal that would roll back U.S. tariffs on Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on U.S. goods, a source briefed on negotiations said on Sunday.

The value of China’s gold reserves also rose slightly to$79.498 billion from $79.319 billion at the end of January.

Reporting by Beijing Monitoring Desk; Editing by Jacqueline Wong

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