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At the end of July this year, Korea’s foreign exchange reserves reached 458.68 billion dollars, the largest amount ever again.
According to the report ‘Foreign Exchange Reserves at the end of July 2021’ published by the Bank of Korea, country’s foreign exchange reserves increased by 4.58 billion dollars to 458.68 billion dollars at the end of last month. It is the largest amount ever.
Earlier, Korea’s foreign exchange reserves had set the new record high for the seven consecutive months from June to December in 2020. It decreased slightly to 442.73 billion dollars in January, but turned to an increase in February, reaching a record high of 447.56 billion dollars.
It fell to 446.13 billion dollars in March and turned to the increase again in April, reaching 452.31 billion dollars. In May, it hit the record high of 456.46 billion dollars for two consecutive months. It decreased to 454.11 billion dollars in June, but increased 458.68 billion dollars in July, the largest ever again.
As of the end of June, Korea ranked 8th in foreign exchange reserves. It rose one notch from ranking 9th in late January 2021 to 8th in late February but fell to 9th again in late March. It increased to 8th again in late April and has maintained the ranking in May and June. (ANI/Global Economic)
( With inputs from ANI )
