China's forex reserves up $3.6 billion in May, less than expected

BEIJING (Reuters) -China's foreign exchange reserves rose by a less-than-expected $3.6 billion in May, official data showed on Saturday, as the dollar continued to weaken against other major currencies.

The country's foreign exchange reserves, the world's largest, rose 0.11% to $3.285 trillion last month, below the Reuters forecast of $3.292 trillion. They were $3.282 trillion in April.

The increase in reserves was due to "the combined effects of factors such as exchange rate conversion and asset price changes," China's State Administration of Foreign Exchange said in a statement.

The yuan weakened 1.05% against the dollar in May, while the dollar slid 0.23% against a basket of other major currencies.

(Reporting by Yukun Zhang and Ryan Woo; Editing by William Mallard and Tom Hogue)

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