China's forex reserves suffers huge losses from weak dollar
Updated: 2011-05-05 13:09
By Ben Yue (chinadaily.com.cn)
China's newly-added foreign exchange reserves since 2003 have lost about $271.1 billion by the end of 2010 as a result of the depreciation of the US dollar, an expert with the National Development and Reform Commission (NDRC) said recently.
"This amount of loss cannot be offset by the country's overseas investment earnings," Zhang said.
Zhang urged the government to diversify the portfolio of foreign exchange reserves quickly.
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