China’s foreign exchange reserves hit five-year high in May driven by rising asset prices as dollar weakened
STOCKS
China’s foreign exchange reserves hit five-year high in May driven by rising asset prices as dollar weakened
STOCKS

China’s foreign exchange reserves hit five-year high in May driven by rising asset prices as dollar weakened

 

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China's foreign exchange reserves expanded in May to hit a five-year high as the US dollar weakened against other major currencies, driving up the value of the country's non-dollar holdings, official data showed Monday.

The country's foreign exchange reserves stood at $3.2218 trillion at the end of May, marking the highest rising by 23.6 billion dollars, or 0.74 per cent, from a month earlier, according to data released by the People's Bank of China on Monday.

"The forex market has maintained stable operation, with generally rational . . .

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