WikiFX Spring Festival Message | Grounded in Transparency, Walking with Trust
As the Lunar New Year approaches, renewal is in the air. It is a moment to bid farewell to the old, welcome the new, and reflect while moving forward.
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S.Korea April FX reserves fall on stronger dollar, intervention
Abstract：South Korea's foreign exchange reserves measured in U.S. dollars shrank by the most in more than two years in April
South Korea's foreign exchange reserves measured in U.S. dollars shrank by the most in more than two years in April on the dollar's strength and dollar-selling intervention by the authorities, data showed on Wednesday.
The country's foreign exchange reserves stood at $449.30 billion as of the end of April, down $8.51 billion from $457.81 a month before, the Bank of Korea said.
It was the biggest monthly fall in the amount of foreign exchange reserves valued in U.S. dollars since March 2020. Please download WikiFX for more forex news.
The Bank of Korea in a statement attributed the decline to a stronger U.S. dollar and “measures to ease volatility in the foreign exchange market”, a phrase often used to describe intervention by the authorities.
It did not elaborate on the intervention.
The won fell 3.5% against U.S. dollar last month, logging the fastest monthly fall since October 2016.
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WikiFX Elite Club Focus | Lance: Trust Is the Result of Long-Term Actions Accumulated Over Time
WikiFX Elite Club Focus is a monthly publication specially created by the WikiFX Club for its members. It highlights the key individuals, perspectives, and actions that are truly driving the forex industry toward greater transparency, professionalism, and sustainable development.
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