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The Korea Herald
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THE INVESTOR
March 29, 2024

Economy

Korea’s forex reserves hit record high in May

  • PUBLISHED :June 05, 2017 - 10:49
  • UPDATED :June 07, 2017 - 11:29
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[THE INVESTOR] Korea’s foreign exchange reserves hit a record high in May due to a hike in the value of non-dollar currencies when converted into the US greenback, central bank data showed on June 5.

As of the end of May, the country’s forex reserves came to US$378.46 billion, up US$1.89 billion from the previous month, the Bank of Korea said in a statement.

The country’s reserve position at the IMF stood at US$1.76 billion as of the end of May, 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.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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