Foreign Exchange Reserves Reach $409.6 Billion at End of January... Another Record High
[Asia Economy Reporter Eunbyeol Kim] At the end of January, South Korea's foreign exchange reserves reached a record high of $409.65 billion.
According to the "Foreign Exchange Reserves at the End of January 2020" announced by the Bank of Korea on the 5th, the foreign exchange reserves as of the end of January stood at $409.65 billion, an increase of $840 million compared to $408.82 billion at the end of December last year.
Although the dollar-denominated value of foreign currency assets in other currencies decreased due to the strong US dollar, the foreign exchange reserves increased as earnings from foreign currency asset management rose.
Securities accounted for $378.45 billion, representing 92.4% of the total foreign exchange reserves. Deposits were $20.29 billion (5.0%), gold was $4.79 billion (1.2%), SDRs (Special Drawing Rights of the IMF) were $3.34 billion (0.8%), and the IMF position was $2.78 billion (0.7%).
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As of the end of January, South Korea's foreign exchange reserves ranked 9th in the world. In terms of foreign exchange reserve size by country, China ranked first with $3.1079 trillion. Japan was second with $1.3238 trillion, and Switzerland was third with $854.8 billion.
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