Foreign Exchange Reserves in June at $454.1 Billion... Decrease of $2.35 Billion

[Asia Economy Reporter Kim Eun-byeol] South Korea's foreign exchange reserves decreased by about 2.4 billion dollars in one month.

According to the foreign exchange reserves statistics announced by the Bank of Korea on the 5th, as of the end of June, South Korea's foreign exchange reserves were recorded at 454.11 billion dollars. This is 2.35 billion dollars less than the record high at the end of May (456.46 billion dollars).

The Bank of Korea explained that this was due to a decrease in financial institutions' reserve deposits and the strengthening of the US dollar, which caused the dollar conversion amount of foreign currency assets denominated in other currencies to also decrease.

Breaking down the foreign exchange reserves by asset type, deposits (21.89 billion dollars) decreased by 7.55 billion dollars compared to the previous month, and International Monetary Fund (IMF) Special Drawing Rights (SDR, 3.5 billion dollars) decreased by 40 million dollars.

The 'IMF position' (4.58 billion dollars), which is the right to withdraw convertible currency from the IMF, also decreased by 60 million dollars. Securities (government bonds, corporate bonds, etc.) increased by 5.29 billion dollars to 419.34 billion dollars.

In the case of gold, since the price is recorded at the purchase price without reflecting the market price, it remained the same as the previous month at 4.79 billion dollars.

As of the end of May, South Korea's foreign exchange reserves ranked 8th in the world (456.46 billion dollars). China (3.2218 trillion dollars) has the largest reserves, followed by Japan (1.3875 trillion dollars) and Switzerland (1.0732 trillion dollars).

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