China FX reserves climb $138 billion in Q1

BEIJING Mon May 23, 2011 11:04pm EDT

BEIJING May 24 (Reuters) - China's foreign exchange reserves increased by $138 billion in the first quarter this year, the country's currency regulator said on Tuesday, less than a $197 billion surge reported initially by the central bank.

In a statement on its website, the currency regulator also said that China's current account surplus stood at $29.8 billion in the first quarter, down 18 percent from a year ago.

The capital account surplus stood at $111.4 billion, it said. It did not provide a year-on-year comparison for this. (Reporting by Koh Gui Qing; Editing by Ken Wills)