S. Korea's FX reserves edge down on-month to US$ 404.7 bil. in Feb.
- 5 years ago
South Korea's foreign exchange reserves edged down slightly on-month in February.
The Bank of Korea says reserves amounted to 404-point-seven billion U.S. dollars, down 840 million dollars from January.
The central bank said the drop was largely due to the stronger U.S. dollar, which in turn decreased the value of the Bank of Korea's assets in other currencies.
As of the end of January, South Korea had the world's eighth largest foreign exchange reserves, with China topping the list.
The Bank of Korea says reserves amounted to 404-point-seven billion U.S. dollars, down 840 million dollars from January.
The central bank said the drop was largely due to the stronger U.S. dollar, which in turn decreased the value of the Bank of Korea's assets in other currencies.
As of the end of January, South Korea had the world's eighth largest foreign exchange reserves, with China topping the list.