Korea’s foreign exchange reserves fell in DecemberKorea’s foreign exchange reserves fell slightly in December from a month earlier due to a decrease in the dollar-converted value of non-dollar currencies, central bank data showed Wednesday.
As of the end of December, the country’s foreign exchange reserves came to $371.1 billion, down $880 million from the previous month, the Bank of Korea said in a statement.
Foreign exchange reserves consist of securities and deposits denominated in overseas currencies, as well as International Monetary Fund reserve positions, special drawing rights and gold bullion.
The central bank said Korea was the world’s eighth-largest holder of foreign exchange reserves as of the end of November.
More in Economy
Border restrictions drastically cut North Korea's trade
Central bank holds rates steady, adjusts up GDP forecast
Restaurant coupons to make a comeback as an app
[INTERVIEW] Korea Forest Service head sees huge opportunity in Indonesia
Tapped out and hunkered down, Korea stares recession in the face