China’s May forex reserves rise slightly to $3.128 trln

BEIJING – China’s foreign exchange reserves rose slightly in May, official data showed on Tuesday, as the dollar fell against other major currencies.

The country’s foreign exchange reserves – the world’s largest – rose $8.1 billion to $3.128 trillion last month, compared with $3.120 trillion tipped a Reuters poll of analysts and $3.120 trillion in April.

The yuan fell 0.94 per cent against the dollar in May, while the dollar fell 1.43 per cent in May against a basket of other major currencies.

China held 62.64 million fine troy ounces of gold at the end of May, unchanged from the end-April.

The value of China’s gold reserves fell to $115.18 billion at the end of May from $119.73 billion at the end-April.