The Bank of Korea on Feb. 8 announces that the country’s foreign currency holdings in January hit a record-high USD 405.5 billion, up USD 1.82 billion from the previous month. (Yonhap News)
By Oh Hyun-woo and Kim Young Shin
Korea’s foreign exchange reserves reached a record-high USD 405.5 billion in January, up USD 1.82 billion from December last year, the Bank of Korea said on Feb. 8.
The amount rose for the third straight month, with the central bank saying, “The weaker dollar resulted in boosting the value of other reserve currencies.”
Korea thus ranked eighth in the world in foreign currency holdings. China was first with USD 3.073 trillion, followed by Japan with USD 1.271 trillion and Switzerland with USD 786.9 billion.
hyunw54@korea.kr
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