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THE INVESTOR] South Korea’s foreign exchange reserves rose slightly in March from a month earlier due to a hike in the value of non-dollar currencies when converted into the US greenback, central bank data showed on April 5.
As of the end of March, the country’s forex reserves came to US$375.3 billion, up US$1.39 billion from the previous month, the Bank of Korea said in a statement.
The country’s reserve position at the IMF stood at US$1.75 billion as of the end of March, compared with US$1.74 billion a month earlier. Holdings in gold bullion remained unchanged at US$4.79 billion during the same period, the statement said.
Meanwhile, the BOK said South Korea was the world’s eighth-largest holder of foreign exchange reserves as of end-February.
By Alex Lee and newswires (alexlee@heraldcorp.com)