South Korea's FX reserves hit record high of US$395.75 bil. in January
- 6 years ago
The total value of South Korea's foreign exchange reserves set yet another record high last month.
The Bank of Korea says reserves reached 395-point-seven-five billion U.S. dollars at the end of January,... up by roughly six-and-a-half billion from the previous month.
The country's FX reserves rallied for a third month in a row,... also posting the largest on-month increase since April 2015.
The central bank attributes the rise to the depreciation of the U.S. dollar,... which increased the value of non-dollar currencies when converted into dollars.
The Bank of Korea says reserves reached 395-point-seven-five billion U.S. dollars at the end of January,... up by roughly six-and-a-half billion from the previous month.
The country's FX reserves rallied for a third month in a row,... also posting the largest on-month increase since April 2015.
The central bank attributes the rise to the depreciation of the U.S. dollar,... which increased the value of non-dollar currencies when converted into dollars.