Foreign reserves hit record high in South Korea

- Central Banking staff
- 02 Apr 2004

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South Korea's foreign currency reserves hit a record high of 163.56 billion dollars at the end of March, according to the Bank of Korea.

The Bank of Korea said in a statement that its reserves were up 550 million dollars from end-February due to increased gains from foreign currency management and larger foreign currency deposits from financial institutions.

However, the accumulation of foreign reserves slowed after a gain of 5.56 billion dollars in January and February combined.

Analysts said the

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