With the addition of 11 billion dollars to the monetary Reserve, official data showed that China's foreign exchange reserves rose in December, as the dollar weakened against

other major currencies. China's foreign exchange reserves, the largest in the world, rose to 3.128 trillion dollars last month compared with the 3.154 trillion dollars predicted by a Reuters poll of analysts and 3.117 trillion dollars, in November.

The yuan rose 2.8% against the dollar in December, while last month the dollar fell 2.3% against a basket of other major currencies. China's gold holdings stood at 64.64 million ounces at the end of December, compared with 63.67 million at the end of November.

The value of China's gold reserves rose to 117.24 billion dollars at the end of December, from 111.65 billion dollars at the end of November.

After falling 7.9% against the dollar in 2022, the Chinese yuan reached its highest level in more than four months against the dollar on the first trading day of the New Year on the third of January, supported by investor optimism that the domestic economic recovery will begin earlier than expected.