South Korea’s foreign-exchange reserves rose to a record high in February on the rise in value of non-dollar assets and investment profit, the central bank said Wednesday.The country’s foreign reserves totaled a record US$351.79 billion as of end-February, up $3.4 billion from the previous month, according to the Bank of Korea (BOK). Foreign reserves had increased for the eighth straight month in February after declining by the most in 13 months in June, according to South Korea’s (Yonhap) News Agency.Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion.The BOK said a weaker US dollar boosted the dollar-conversion value of non-dollar assets and investment profit also rose.The euro appreciated 0.4% to the US dollar last month, and the British pound gained 0.8% per the greenback.As of the end of January, South Korea was the world’s seventh-largest holder of foreign-exchange reserves.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor