China's foreign reserve fell more than expected in May. That was the word Tuesday from the People's Bank of China.

 Forex reserves slid 28 billion US dollars, bringing the total reserve to a four-and-a-half year low of 3.2 trillion dollars. Analysts say a pending US rate hike pushed up the greenback which meant the forex reserve pile was worth less.

The Chinese yuan fell 1.53 percent against the dollar in May.