The rise in foreign exchange reserves in South Korea in June
On July 3 / WAM / South Korea Central Bank’s statements issued on Thursday showed that the country’s foreign exchange reserves rose last June from its lowest level in 5 years.
The foreign exchange reserves of South Korea reached 410 billion dollars at the end of last month, an increase of $ 5.61 billion over the previous month, according to data.
The South Korean Yonhap News Agency indicated that the reserve had arrived last month to its highest level since last January, when he recorded 411.01 billion dollars.
The foreign exchange reserves decreased for two consecutive months since April, recording its lowest level at $ 404.6 billion at the end of May since April 2020, when he recorded 406.98 billion dollars.
The central bank said that the increase last month is due to the high value of foreign assets denominated in foreign currencies as a result of the high value of these currencies against the dollar, in addition to the high returns of investing these assets.
The value of foreign securities, such as US Treasury bonds, amounted to 358.5 billion dollars at the end of June, a decrease of $ 1.47 billion from the previous month, and formed 87.4% of foreign reserves.
South Korea was in the tenth place in the world at the end of May in terms of the volume of foreign exchange reserves, while China topped the list, followed by Japan, Switzerland, India and Russia.
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