简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The foreign exchange reserves of Asia's fourth-largest economy had fallen to $447.71 billion by the end of May, the lowest since the end of March 2021, from $449.30 billion a month earlier, the Bank of Korea said.
South Korea's foreign exchange reserves shrank in May for a third consecutive month, reaching the lowest level in 14 months because of dollar-selling intervention to support the local currency, the central bank said on Tuesday.
The foreign exchange reserves of Asia's fourth-largest economy had fallen to $447.71 billion by the end of May, the lowest since the end of March 2021, from $449.30 billion a month earlier, the Bank of Korea said.
It cited “measures to ease volatility in the foreign exchange market” as the main reason for the decline, saying the reserves might have increased in U.S. dollar terms, as the dollar had weakened against major currencies in the month.
It did not disclose the scale of the intervention.
The won fell in early May, reaching a 26-month low versus the dollar on May 12, then rebounded to eventually end the month 1.67% stronger than at the end of April.
In dollar terms, South Korea had held the world's ninth largest foreign reserves at the end of April, the central bank said.
For more Forex news, please download WikiFX- the Global Forex Regulatory Inquiry APP.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
ICE Futures U.S. recently announced the settlement of charges against StoneX Financial Inc. related to potential violations of the Exchange Rule, which prohibits trade practices such as wash sales and prearranged trades. These charges were connected to an incident that occurred on April 27, 2023, where an employee of StoneX allegedly placed opposing buy and sell orders in the Cocoa Futures spread market.
The Labuan Financial Services Authority (LFSA) has introduced new restrictions on locally regulated forex and contracts for differences (CFDs) brokers, limiting their offerings to currency-related instruments such as spot FX and CFDs on foreign exchange.
The Italian financial services regulator, Consob, has taken decisive action against four new websites that were found to be illegally offering unauthorized financial services.
Saxo Bank launched an attractive promotion for new clients that offers zero commission trading on transactions for the 100 most popular US stocks. This campaign began on September 17, 2024, and runs until December 31, 2024. It aims to attract clients who want to invest without paying trading costs.