The main functions of foreign exchange reserves:
1. Adjust the international balance of payments and ensure external payments
2. Intervene in the foreign exchange market and stabilize the local currency exchange rate
3. Maintain international credibility and improve external financing capabilities
4. Enhance comprehensive national strength and the ability to resist risks
The common people understand straightforwardly that it is for the convenience of buying things from abroad. Investment is convenient, and the other is that if the RMB depreciates, there will still be support from the US dollar.
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