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S. Korea's FX Reserves Down in February

Written: 2019-03-06 08:44:23Updated: 2019-03-06 10:57:58

S. Korea's FX Reserves Down in February

Photo : YONHAP News

South Korea's foreign currency holdings decreased in February for the first time in four months on the wave of a strong U.S. dollar trend.

According to the Bank of Korea on Wednesday, the total value of the country's foreign exchange reserves came to 404-point-67 billion dollars as of the end of February, down 840 million dollars from a month earlier. 

The monthly foreign exchange reserves marked a slight decrease last month after posting new record highs for three straight months since November of last year. 

The central bank said that the recent strength of the U.S. dollar decreased the value of non-dollar currencies when converted into the greenback. 

South Korea was the world's eighth-largest holder of foreign exchange reserves at the end of January, with China topping the list, followed by Japan.

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