China’s foreign exchange reserves rose in February for the first time in eight months to again pass the USD3 trillion mark, up from January’s six-year low of USD2.9982 trillion. “The rise in China forex reserves shows there has been less intervention in the foreign exchange markets compared to the past couple of months, ultimately showing that the PBOC or policymakers are now more comfortable with the yuan valuation,” said Jameel Ahmad, Vice President of Corporate Development and Market Research at FXTM, a forex brokerage. The central parity rate of the yuan to the U.S. dollar weakened by 0.24% in February to 6.875. The State Administration of Foreign Exchange (SAFE) said in a statement last month that the fall in reserves had been slowing in the past few months, signaling easing outflow pressure amid China’s economic recovery.