Korea’s foreign exchange reserves decreased by US$1.59 billion to US$447.71 billion in May. The Bank of Korea
The Bank of Korea announced on June 7 that South Korea’s foreign exchange reserves decreased by US$1.59 billion to US$447.71 billion last month.
“The decrease was caused by foreign exchange market stabilization measures,” the central bank explained. The reserves decreased for the third consecutive month, and the country’s global ranking fell from eighth to ninth as of the end of April.
Marketable securities such as government and corporate bonds decreased US$7.33 billion to US$401.49 billion. On the other hand, deposits and special drawing rights increased US$5.61 billion and US$100 million, respectively. The IMF position increased US$30 million.
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