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China Forex Reserves Fall

China Forex Reserves FallChina Forex Reserves Fall

China’s foreign exchange reserves in May fell to $3.19 trillion, central bank data showed on Tuesday, the lowest since December 2011, likely due to the impact of a stronger dollar, Reuters reported. Economists polled by Reuters had predicted foreign exchange reserves would fall to $3.20 trillion from $3.22 trillion at the end of April. China’s reserves, the world’s largest, fell by $27.9 billion in May—the biggest monthly drop since February. The reserves rose by $7.1 billion in April and $10.3 billion in March.

 

Financialtribune.com