SEOUL, Feb. 3 (Yonhap) -- South Korea's overseas reserves edged down in January as a result of U.S. greenback's energy, which trimmed the worth of
SEOUL, Feb. 3 (Yonhap) — South Korea’s overseas reserves edged down in January as a result of U.S. greenback’s energy, which trimmed the worth of non-U.S. greenback overseas reserves, central financial institution information confirmed Wednesday.
The nation’s overseas reserves got here to US$442.7 billion as of end-January, down $370 million from a month earlier, based on the Financial institution of Korea (BOK).
It marked the primary month-to-month decline since final March, with the nation’s overseas reserves having risen for the ninth consecutive month in December.
Overseas reserves include securities and deposits denominated in abroad currencies, Worldwide Financial Fund reserve positions, particular drawing rights and gold bullion.
The nation’s FX reserves had risen each month since April final yr after dropping by the biggest quantity in over a decade in March amid the COVID-19 pandemic-caused market rout.
Overseas securities got here to $404.5 billion as of end-January, down $5.21 billion from the earlier month and accounting for 91.Four % of the FX reserves.
Deposits rose $4.71 billion on-month to $24.9 billion, and gold holdings remained unchanged at $4.79 billion.
As of the tip of December final yr, South Korea was the world’s ninth-largest holder of overseas trade reserves.