Korea’s Foreign Reserves Experience February Increase After Three Months

Seoul: The Republic of Korea's foreign reserves increased in February, marking the first rise in three months. This growth was attributed to investment returns and the issuance of Exchange Stabilisation Fund (ESF) bonds denominated in foreign currency, as reported by the central bank on Thursday. The Bank of Korea (BOK) announced that the country's foreign reserves totaled US$427.62 billion at the end of February, reflecting an increase of US$1.72 billion from the previous month. According to Emirates News Agency, the reserves had previously decreased in December, marking the first decline since June, and continued to fall through January. However, the recent data indicates a reversal of this trend. Additionally, Korea's reserve position with the International Monetary Fund (IMF) saw an increase of US$200 million from the previous month, reaching US$4.6 billion at the end of February. This information highlights a positive shift in Korea's economic standing for the reported period.