China's forex reserves in May up by a less-than-expected $3.6b

China's foreign exchange reserves rose by a less-than-expected $3.6 billion in May, official data showed on Saturday, as the dollar continued to weaken against other major currencies.

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The country's foreign exchange reserves, the world's largest, rose O.11 per cent to $3.285 trillion last month, below the Reuters forecast of $3.292 trillion. They were $3.282 trillion in April.

The increase in reserves was due to "the combined effects of factors such as exchange rate conversion and asset price changes," China's State Administration of Foreign Exchange said in a statement.

The yuan weakened 1.05 per cent against the dollar in May, while the dollar slid 0.23 per cent against a basket of other major currencies.

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 per cent against the dollar in May, while the dollar slid 0.23 per cent against a basket of other major currencies.

Meanwhile China's central bank added gold to its reserves in May for the seventh straight month, official data from the People's Bank of China (PBOC) showed on Saturday.