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South Korea’s Foreign Exchange Reserves Recovered for the First Time in Four Months While CPI Rises

South Korea’s central bank said today that foreign exchange reserves rose in February for the first time in four months, driven by gains on investments in foreign currency assets.

South Korea’s foreign exchange reserves stood at $461.77 billion in February, up $24 million from January.

Last October, South Korea’s foreign exchange reserves reached a record high before declining for three consecutive months.

South Korea’s foreign exchange reserves consist of:

  • Securities worth $410.84 billion
  • Deposit $26.2 billion
  • Gold Bar $4.79 billion
  • Special Drawing Rights (SDR) worth $15.31 billion
  • IMF worth $4.61 billion.

South Korea had the eighth largest foreign exchange reserves in the world at the end of January. This is the same ranking as in January.

Meanwhile, the inflation rate rose to 3.7% YoY in the month of February. This is a slight increase compared to last month when the CPI increased by 3.6% YoY. In MoM terms, this results in a CPI increase of 0.6%.

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