BEIJING--China's foreign-exchange reserves in May dropped for a second straight month, hitting a seven-month low, as the U.S. dollar continued to show strength.
However, the decline wasn't as deep as economists had forecast.
Reserves fell $14.23 billion from the previous month to $3.111 trillion, after dropping $17.97 billion in April, according to data released Thursday by the People's Bank of China.
Economists polled by The Wall Street Journal had expected a $17 billion drop in May.
The dollar rose 0.9% against the yuan last month, according to Wind Information. The ICE U.S. Dollar Index, a gauge of the dollar's strength against six other currencies including the euro and Japanese yen, climbed 2.3% in May.
--Liyan Qi
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