Seoul: SiltaNews – News Desk
The Republic of Korea’s foreign exchange reserves rose to US$427.88 billion at the end of April, an increase of $4.22 billion compared to the previous month, according to data released by the Bank of Korea.
The central bank said the figure marked a reversal from the $3.97 billion decline recorded in March, which represented the largest monthly drop in around a year.
The bank explained that despite market stabilisation measures such as foreign exchange swaps with the National Pension Service, foreign reserves increased in April due to the higher value of foreign currency-denominated assets against the US dollar, in addition to improved investment returns.