China's November FX reserves rise unexpectedly to $3.266 trillion

SHANGHAI: China's foreign exchange reserves increased in November, official data showed on Saturday, defying market expectations of a decline.

The country's foreign exchange reserves - the world's largest - grew by $5 billion last month to $3.266 trillion, above a Reuters forecast of $3.23 trillion and up from $3.261 trillion in October.

The yuan weakened 1.8% against the dollar in November, while the dollar last month rose 1.8% against a basket of other major currencies.