June 30, 2017 / 8:15 AM / 2 months ago

China cenbank FX derivatives' short position shrinks to $6.04 bln at end-May

BEIJING, June 30 (Reuters) - China's central bank said on Friday that its holdings of short foreign currency positions in forwards and futures versus the yuan shrank in May.

The People's Bank of China held $6.044 billion of such positions with commercial banks as of the end of May, down from $11.544 billion one month earlier, official data showed.

Friday's data also showed that all the currently held $6.044 billion of short foreign currency positions were due to mature in more than three months and up to one year.

China started to report the data early last year, following speculation the central bank was using currency swaps and other derivatives to intervene in offshore forex markets to prop up the yuan.

The yuan strengthened against the U.S. dollar by 1.2 percent in May. (Reporting by Beijing Monitoring Desk; Editing by Simon Cameron-Moore)

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