Economy
Forex reserves dip to three-month low
Updated: Jun 8, 2023
By Zhou Lanxu
chinadaily.com.cn
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China's foreign exchange reserves fell to a three-month low of $3.1765 trillion by the end of May as the US dollar strengthened while global financial markets showed mixed returns, the State Administration of Foreign Exchange said on Wednesday.
The amount marked a decline of $28.3 billion or 0.88 percent compared with the end of April.
SAFE data also showed China's gold reserves rose to 67.27 million ounces at the end of May, up from 66.76 million ounces a month earlier and marking the seventh consecutive monthly rise.
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