China’s Foreign Exchange Reserves Continued Falling in March

China’s foreign-exchange hoard fell for the third straight month in March, according to official data released Wednesday.
The People’s Bank of China said the nation’s foreign-exchange reserves dropped $34.96 billion to $3.170 trillion at the end of March.

China’s foreign-exchange regulator said Wednesday that the reserves decline was due to the rising U.S. dollar index and changes in asset prices.

The State Administration of Foreign Exchange reiterated that despite the uncertainty in the global financial market and its economic recovery, China’s economic growth could help stabilize its foreign exchange reserves.