Meanwhile, South Korea’s foreign exchange reserves shrank in June for the third month in a row.
According to the Bank of Korea on Wednesday, the reserves stood at over 412-billion U.S. dollars at the end of June, DOWN over 6-hundred million U.S. dollars on month.
The drop is being linked to the repayment of foreign exchange stabilization bonds and the BOK’s foreign currency swap with the country’s pension fund.
As of the end of May, South Korea is the world’s ninth-largest holder of foreign reserves.
Source : Arirang TV, https://www.arirang.com/news/view?id=272806
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