China’s FX Reserves Reach 10-Year High

China’s foreign exchange reserves increased by USD 41.2 billion to USD 3.399 trillion in January 2026, up from USD 3.358 trillion in December 2025. This marked the seventh consecutive monthly rise and the highest level since November 2015, supported by a persistently weaker U.S. dollar. Meanwhile, the People’s Bank of China continued to add to its gold holdings for the fifteenth consecutive month, with reserves rising slightly to 74.19 million fine troy ounces in January from 74.15 million in December 2025. The value of these holdings climbed to USD 369.58 billion, up from USD 319.45 billion a month earlier. In 2025, China’s foreign exchange reserves increased in 11 months, rising by USD 155.512 billion over the year.

China’s foreign exchange reserves increased by USD 11.5 billion to USD 3.358 trillion in December 2025, up from USD 3.346 trillion in November. This marked the sixth consecutive monthly rise and the highest level since November 2015, supported by a persistently weaker US dollar. Last month, the yuan fell 1.22% against the dollar, while the dollar weakened 1.23% against a basket of other major currencies. Meanwhile, the People’s Bank of China continued to add to its gold holdings for the fourteenth consecutive month,with reserves rising slightly to 74.15 million fine troy ounces in December from 74.12 million in November. The value of these holdings increased to USD 319.45 billion, up from USD 310.64 billion a month earlier.

China’s foreign exchange reserves climbed by USD 3.0 billion to USD 3.346 trillion in November 2025, up from USD 3.343 trillion in October and compared with market expectations of USD 3.36 trillion. It was the fourth straight month of increases, marking the highest level since November 2015, amid a weaker US dollar. The yuan dropped 0.65% against the dollar last month, while the dollar weakened 0.24% against a basket of other major currencies. Meanwhile, the People’s Bank of China continued to add to its gold holdings for the thirteenth consecutive month, with reserves edging up to 74.12 million fine troy ounces in November from 74.09 million in October. The value of gold reserves rose to USD 310.65 billion from USD 297.21 billion a month earlier.