Korea’s foreign exchange reserves rose for the first time in 3 months in February
SEOUL, 5 March / WAM / The Bank of Korea announced on Thursday that the Republic of Korea’s foreign exchange reserves rose compared to the previous month during February, recording their first increase in three months, driven by investment returns and the issuance of Exchange Stabilization Fund bonds denominated in foreign currencies.
The Korean Yonhap News Agency reported that the country’s foreign exchange reserves amounted to 427.62 billion US dollars at the end of February, an increase of 1.72 billion dollars from the previous month, according to data issued by the Central Bank of Korea.
Reserves fell in December for the first time since June, and continued to fall into January.
The data showed that the country’s reserves with the International Monetary Fund rose by $200 million from the previous month, reaching $4.6 billion at the end of February.
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