China's foreign exchange reserves swelled above the $2 trillion mark in the second quarter of this year, the People's Bank of China has announced.According to data provided by the bank, forex reserves burgeoned by $177.9 billion between April and June, taking total reserves to $2.132 trillion and consolidating the country's position as the world's largest holder of foreign currency.The Financial Times reports that much of the reserves remain held in dollars, despite the country's recent protestations at the predominant position of the greenback as the world's reserve currency.China led the charge of the discontented at the G8 summit in Italy last week with calls for an alternative reserve currency. Reuters touted the euro and the yuan as the likely successors.The surge in reserves also puts the dampers on declining growth seen in the previous quarters. In Q4 2008 and Q1 2009, foreign reserves increased by just $41.1 billion.