South Korea’s international change reserves decreased in January after having setting new information for seven consecutive months.
South Korea’s international change reserves decreased final month after having set new information for seven months in a row.
The Financial institution of Korea introduced on Feb. Three that the reserves decreased US$370 million to US$442.73 billion in January this yr.
“The lower resulted from a robust U.S. greenback,” the central financial institution defined, including, “The worth of the U.S. greenback has gone up since December final yr after 9 months of decline and the USD index, which had been as excessive as 102 in March 2020, reached 89 in December and over 90 final month.”
South Korea’s international change reserves have been the ninth-largest on this planet on the finish of 2020. China confirmed the most important quantity of US$3,216.5 billion, adopted by Japan (US$1,394.7 billion), Switzerland (US$1,083.6 billion) and Russia (US$595.eight billion).