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1st Ld: China's forex reserves rise for 2nd month

Xinhua, May 7, 2016 Adjust font size:

China's foreign exchange reserves rose for a second straight month in April, as fears about a weak yuan and capital outflow eased amid increasing signs of stabilizing economic growth.

China's foreign exchange reserves rose 7.1 billion U.S. dollars from March to 3.2197 trillion U.S. dollars in April, central bank data showed on Saturday.

This marked a second month of rise following the unexpected increase in March that put an end to a falling streak since November, according to data from the People's Bank of China.

China's foreign exchange reserves last rose in October, when they stood at 3.5255 trillion U.S. dollars.

China's gold reserves reached 74.75 billion U.S. dollars at the end of April, up from the 71.48 billion U.S. dollars in March, according to the central bank data. Endi