Source : WAM
The Republic of Korea’s foreign exchange reserves declined for a second straight month in January, reflecting government measures aimed at stabilising the currency market, the central bank said on Wednesday.
Foreign reserves totaled US$425.91 billion at the end of January, marking a $2.15 billion decrease from the previous month, according to figures released by the Bank of Korea (BOK).
Yonhap News Agency reported that this was the second consecutive monthly drop, following December’s decline the first since June.
Data also showed that the country’s reserve position with the International Monetary Fund (IMF) rose by $10 million month-on-month to $4.3 billion at the end of January.
As of the end of December, the Republic of Korea ranked ninth globally in terms of foreign reserve holdings.
