South Korea’s foreign exchange reserves rose last March due to the depreciation of the dollar

South Korea’s foreign reserves continued to rise, reaching 426.07 billion US dollars by the end of last March, up 780 million dollars from the previous month.
Data from the Central Bank of South Korea showed today that the country’s foreign reserves increased in March, as the dollar’s decline led to an increase in the transfer value of property in other currencies.
Yonhap News Agency reported that the country’s foreign reserves reached 426.07 billion US dollars by the end of March, up 780 million dollars from the previous month.
According to Bank of Korea data, the dollar’s depreciation last month boosted the remitted value of holdings denominated in other currencies.
The central bank said the dollar index, which measures the value of the US currency against other major currencies, fell by 2.4% last month.
Foreign reserves consist of securities and deposits denominated in foreign currencies, IMF reserve positions, special drawing rights and gold bullion.
The value of foreign securities, such as US Treasury bonds, was $377.59 billion at the end of March, up $3.09 billion from February. The data showed that it constituted 88.6% of the total foreign reserves.