Foreign Reserves of South Korea at the End of April Reach 452.31 Billion USD... Increase of 6.2 Billion USD

[Asia Economy Reporter Kim Eunbyeol] South Korea's foreign exchange reserves have once again shown an increasing trend, reaching $452.31 billion.

According to the "Foreign Exchange Reserves at the End of April 2021" announced by the Bank of Korea on the 6th, the foreign exchange reserves at the end of last month amounted to $452.31 billion, an increase of $6.18 billion compared to the end of the previous month.

The foreign exchange reserves had recorded record highs every month for seven consecutive months since June last year, but the streak of record highs stopped in January this year as the value of the dollar rose. In February, as the dollar value slightly declined, the record was broken again; it decreased in March but increased again in April.

This is due to the weakening of the US dollar in April, which increased the dollar-converted value of foreign currency assets denominated in other currencies, as well as an increase in earnings from foreign currency asset management.

The foreign exchange reserves consist of securities at $412.07 billion (91.1%), deposits at $27.22 billion (6.0%), gold at $4.79 billion (1.1%), IMF position at $4.69 billion (1.0%), and SDR at $3.53 billion (0.8%).

As of the end of March this year, South Korea's foreign exchange reserves rank 9th in the world. China's foreign exchange reserves, ranked first, decreased by $35 billion from the previous month to $3.17 trillion.

This content was produced with the assistance of AI translation services.