As of the end of last year, foreign exchange reserves declined for the second straight month following November. The ranking was also lowered by one notch from 8th to 9th in the world.
According to statistics released by the Bank of Korea on the 5th, domestic foreign exchange reserves stood at $463.12 billion as of the end of December last year, down $790 million from the previous month.
The BOK announced that the conversion of foreign currency assets in other currencies into US dollars has increased, but the total foreign exchange reserves have decreased due to the repayment of principal and interest on foreign exchange equalization fund bonds denominated in foreign currencies.
By asset, securities (government bonds, government bonds, corporate bonds, etc.) recorded $42.169 billion, an increase of $750 million from the previous month. Deposits decreased by $1.56 billion to $16.63 billion.
The International Monetary Fund (IMF) special drawing rights (SDR) increased by 20 million dollars to 15.37 billion dollars, and IMF positions held by IMF member countries through payment of investment and loans, and gold and 4.63 billion dollars and 4.79 billion dollars, respectively. Ten thousand dollars, the same as the previous month.
Compared to overseas, domestic foreign exchange reserves rank ninth in the world as of the end of November. Saudi Arabia’s ranking changed with an increase of $13.4 billion and a decrease of $5.3 billion for South Korea. China ($3.22 trillion) came in first place, followed by Japan ($1.4 trillion) and Switzerland ($1.82.6 trillion) in second and third places.
Last year, Korea’s foreign exchange reserves reached new maximums one after another in April-May and July-October. As of the end of December last year, foreign exchange reserves increased by $20.02 billion from $443.1 billion at the end of 2020.