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S. Korea's foreign reserves fall in January

SEOUL
2024-02-05 10:43

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SEOUL, Feb. 5 (Xinhua) -- South Korea's foreign reserves fell in January due to the lower conversion value of non-U.S. dollar assets, central bank data showed Monday.

Foreign currency reserves came to 415.76 billion U.S. dollars at the end of January, down 4.39 billion dollars from a month earlier, according to the Bank of Korea (BOK). It marked the first decline in three months.

The strong dollar reduced the conversion value of non-dollar assets. The dollar index, which gauges the dollar value versus six major peers, advanced 2.1 percent in January.

The country's foreign reserves were composed of 368.68 billion dollars of securities, 22.78 billion dollars of deposits, 14.94 billion dollars of special drawing rights, 4.79 billion dollars of gold bullion and 4.56 billion dollars of the IMF position.

South Korea was the world's ninth-largest holder of foreign reserves at the end of December, unchanged from the previous month.
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