South Korea's FX reserves dip to $94.44bn

SOUTH KOREA - The South Korea's foreign exchange reserves dipped by $890 million from a month earlier to $94.44 billion as of late Mar 2001, falling for the fourth straight month, the Bank of Korea (BOK) said Apr 2.

The central bank attributed the drop to the country's debt payment totaling $690 million to the International Monetary Fund and the dollar's steep rise against the yen and the euro and the yen, which lowered the overall reserves in dollar terms.

The reserves peaked at $96.3 billion

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