China’s forex reserves dip to three-month low

In this undated photo, a clerk counts yuan bank notes and US dollar bills at a branch of the Industrial and Commercial Bank of China in Huaibei, East China's Anhui province. (PHOTO / IC)

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.

ALSO READ: China's forex reserves rise in 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.