July 8, 2019 / 12:45 AM / 16 days ago

CORRECTED-China's June forex reserves rise to $3.119 trillion

(Corrects June rise to $18.23 bln, not $182.3 bln in paragraph 1)

SHANGHAI, July 8 (Reuters) - China’s foreign exchange reserves rose $18.23 billion in June to $3.119 trillion, central bank data showed on Monday.

Economists polled by Reuters had expected the country’s reserves, the world’s largest, would rise $2 billion to $3.103 trillion as rising hopes of a trade truce with the United States helped ease downward pressure on the yuan currency.

The yuan has been very sensitive to developments in the year-long Sino-U.S. trade dispute, which has heightened pressure on China’s already slowing economy. Leaders from both countries agreed a ceasefire in late June while negotiations resumed, but existing tariffs remained in place.

The value of China’s gold reserves rose to $87.27 billion from $79.83 billion at the end of May. (Reporting by Josh Horwitz; Editing by Jacqueline Wong)

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