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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 March

  • PUBLISHED :April 04, 2018 - 09:41
  • UPDATED :April 04, 2018 - 09:41
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[THE INVESTOR] Korea’s foreign exchange reserves hit a new record high last month, central bank data showed on April 4.

The total value of the country’s forex reserves reached US$396.75 billion as of the end of March, up US$1.95 billion from the previous month, according to the data released by the Bank of Korea.

The March figure exceeds the previous record of US$395.75 billion, set in January.

The BOK said that the recent depreciation of the US dollar helped increase the value of its foreign currency deposits other than US greenback.

The country’s reserve position at the IMF stood steady at US$1.62 billion at the end of December, while holdings in gold bullion also remained unchanged at US$4.79 billion during the same period, the statement said.

The BOK, meanwhile, said that as of the end of February, Korea placed ninth in the world ranking of foreign exchange reserves, with China topping the list, followed by Japan and Switzerland.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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