China's forex reserves rise more than expected in May

China's foreign exchange reserves rose more than expected in May, central bank data showed on Sunday, as the greenback regained broader momentum.

The country's foreign exchange reserves, the world's largest, amounted to US$3.442 trillion last month, beating the US$3.411 trillion expected by analysts in a Reuters poll. The reserves totalled US$3.411 trillion in April.

The yuan rose 0.95 percent against the dollar last month, while the dollar strengthened 0.85 percent against a basket of major currencies.

Reuters

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓