South Korea's FX reserves in March see biggest drop in more than 11 years
- 4 years ago
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South Korea's foreign exchange reserves fell by the most in more than 11 years.
According to the nation's central bank March figures were down from February by 8-point-9-6 billion U.S. dollars, for a total of 4-hundred-point-2-1 billion.
That was the fastest on-month decline since November 2008.
The Bank of Korea largely attributed the drop to its intervention in the currency market... as well as the stronger greenback.
South Korea's foreign exchange reserves fell by the most in more than 11 years.
According to the nation's central bank March figures were down from February by 8-point-9-6 billion U.S. dollars, for a total of 4-hundred-point-2-1 billion.
That was the fastest on-month decline since November 2008.
The Bank of Korea largely attributed the drop to its intervention in the currency market... as well as the stronger greenback.