China FX reserves at seven-month low in May

PBoC figures show $14.2 billion decrease, bringing total reserves stockpile to seven-month low of $3.11 trillion

Big drop: Safe says renminbi's decline was due to surging dollar

China’s foreign exchange reserves dropped to their lowest level in seven months to stand at $3.11 trillion in May, driven by a rebound in the dollar and registering the second consecutive month of decline, according to figures from the People’s Bank of China, published on June 8.

Despite the drop, the figures were better than economists’ expectations, with the decline limited to $14.23 billion.

The State Administration of Foreign Exchange – the regulatory agency set up by the PBoC – said the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: