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FX Reserves Rise for First Time in 4 Months in February

Written: 2022-03-04 08:44:06Updated: 2022-03-04 11:10:46

FX Reserves Rise for First Time in 4 Months in February

Photo : YONHAP News

Foreign reserves posted growth for the first time in four months in February.

According to the Bank of Korea on Friday, the nation's foreign currency reserves stood at 461-point-seven billion U.S. dollars as of the end of February, up 240 million dollars from a month earlier.

It marks the first on-month growth following falls for three straight months. 

The central bank said the reserves expanded due to a rise in the value of non-dollar assets when converted into the American currency, as well as a rise in investment profits. 

As of the end of January, South Korea was the world's eighth largest holder of foreign exchange reserves. China topped the list at three-point-22 trillion dollars, followed by Japan and Switzerland.

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