Foreign Currency at New High
Korea's foreign currency reserves reached the highest amount ever as the inflow of dollars increased.The Bank of Korea said Monday that foreign currency reserves had reached $96.68 billion as of Sunday, an increase of $2.35 billion from the end of the previous month.
Korea's foreign currency reserves were exhausted at the end of 1997. They picked up at the end of 2000, reaching $96.20 billion, but decreased as the government repaid foreign debts.
The government repaid $300 million to the International Monetary Fund this month, but dollar inflow increased as Korea Telecom raised foreign currency through depository receipt offering, among other reasons.
with the Korea JoongAng Daily
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