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S. Korea's FX Reserves Down in April

Written: 2019-05-07 08:26:35Updated: 2019-05-07 11:15:42

S. Korea's FX Reserves Down in April

Photo : YONHAP News

South Korea's foreign exchange reserves slightly decreased in April from a month earlier due to the strengthening of the U.S. dollar against other currencies.

According to the Bank of Korea on Tuesday, the total value of the country's foreign exchange reserves came to 404-point-03 billion dollars as of the end of April, down one-point-22 billion dollars from a month earlier.

The monthly foreign exchange reserves rebounded in March after a slight decrease in February but shrank again last month.

The drop was largely attributed to the recent appreciation of the greenback that caused a decrease in the value of the country's foreign reserves held in other currencies, such as the euro and the Japanese yen.

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

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