China's Forex Reserves See Modest Growth Amid Dollar Weakness

China's foreign exchange reserves increased by $3 billion in May, falling short of expectations. Total reserves grew to $3.285 trillion, slightly below the forecast of $3.292 trillion. The yuan weakened by 1.05% against the dollar, which simultaneously depreciated by 0.23% against other major currencies.

China's foreign exchange reserves saw a modest increase in May, rising by $3 billion as reported on Saturday, despite predictions suggesting a more significant uptick.

The reserves, the largest globally, totaled $3.285 trillion, coming in under the expected $3.292 trillion, as they moved upwards from $3.282 trillion in April.

In foreign currency markets, the yuan weakened by 1.05% against the almighty dollar, which itself slipped 0.23% against a basket of other major currencies, impacting reserve valuations.

(With inputs from agencies.)