Korea’s foreign exchange reserves fell for the second straight month in January
SEOUL, 4th February, 2017 (WAM) — The Republic of Korea’s foreign exchange reserves decreased for the second month in a row during last January, amid the government’s efforts to stabilize the foreign exchange market, according to what the Central Bank of Korea announced today, Wednesday.
The Korean Yonhap News Agency reported that the country’s foreign exchange reserves amounted to 425.91 billion US dollars at the end of January, a decrease of 2.15 billion dollars from the previous month, according to bank data.
The agency added that this decline is the second in a row, after reserves decreased during December for the first time since June.
Bank data showed that Korea’s reserves with the International Monetary Fund rose by $10 million from the previous month, reaching $4.3 billion at the end of last month.
The Republic of Korea ranked ninth in the world in terms of the volume of foreign reserves at the end of December.
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