Korea’s foreign exchange reserves decreased for the first time in 7 months

SEOUL, January 6 (WAM) – The Republic of Korea’s foreign exchange reserves decreased for the first time in seven months last December amid an increase in volatility in the foreign exchange market, prompting the authorities to take a series of measures to stabilize the market.

Yonhap News Agency quoted the Central Bank of Korea on Tuesday as saying that the country’s foreign exchange reserves amounted to 428.05 billion US dollars at the end of December, a decrease of 2.6 billion dollars from the previous month. This represents the first monthly decline after the reserve rose for six consecutive months to reach its highest level in November since August 2022.

A central bank official said that measures aimed at reducing fluctuations in the foreign exchange market were a factor that led to the decline in foreign exchange reserves, without going into details.

-Except-

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and