January 7, 2018 / 7:15 AM / a year ago

China regulator says will keep forex reserves 'balanced, stable' in 2018

BEIJING (Reuters) - China’s foreign exchange regulator said on Sunday that it would keep the nation’s foreign exchange reserves and international balance of payments “balanced and stable” in 2018.

The comment from the State Administration of Foreign Exchange (SAFE) comes after central bank data released earlier on Sunday showed China’s forex reserves in December rose more than expected to their highest since September 2016.

An increase in non-dollar denominated currencies helped lift the reserves, the SAFE said.

Reporting by Josephine Mason and Meng Meng; Editing by Himani Sarkar

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