China’s forex reserves up only by $3B in May
Chinese Yuan and U.S. dollar banknotes are seen in this illustration. —REUTERS/DADO RUVIC
BEIJING—China’s foreign exchange reserves rose by a less-than-expected $3 billion in May, official data showed on Saturday, as the dollar continued to weaken against other major currencies.
The country’s foreign exchange reserves, the world’s largest, rose to $3.285 trillion last month, below the Reuters forecast of $3.292 trillion. They were $3.282 trillion in April.
The yuan weakened 1.05 percent against the dollar in May, while the dollar slid 0.23 percent against a basket of other major currencies.
