BEIJING – China's foreign currency reserves rose in March for a second month, suggesting Beijing did little to intervene in exchange markets, a politically volatile issue as U.S. President Donald Trump meets with his Chinese counterpart, Xi Jinping.
Official data Friday showed the reserves rose by $4 billion to just over $3 trillion. That is a reverse from last year's monthly declines in the tens of billions of dollars.
The central bank has been spending foreign currency to shore up the yuan after expectations that the Chinese currency would decline prompted investors to move money out of the country.
Trump promised during his campaign to declare that Beijing manipulated the yuan, opening the way to possible sanctions.
Trump and Xi were to meet for a second day Friday in Florida.
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