FRENCH OFFICIAL RESERVES RISE IN MAY
  French official reserves rose 258 mln
  francs in May to 420.50 billion francs from 420.24 billion at
  the end of April, the Finance Ministry said.
      The slight rise partly reflected the repayment last month
  of France's outstanding 11.95 billion francs of debt owed to
  the European Monetary Cooperation Fund (FECOM).
      It also reflected a negative 314 mln franc position with
  France's Exchange Stabilisation Fund after intervention
  purchases of 10.6 billion francs during May.
      Foreign currency holdings fell 7.28 billion francs to
  124.58 billion while ECU holdings fell by 5.55 billion francs
  to 58.52 billion due to the repayment of part of France's debt
  owed to the FECOM and Stabilisation Fund operations, the
  ministry said.
      Claims on the IMF rose 1.14 billion francs to 18.97
  billion, including a 385 mln franc increase in France's reserve
  position with the IMF and a 751 mln franc rise in holdings of
  Special Drawing Rights.
      Gold holdings were unchanged at 218.46 billion francs.
  

