S. Korea's FX Reserves Climb Up in April to US$404-B

South Korea's foreign exchange (FX) reserves rebounded to US$403.98 billion in April, up by $3.77 billion surge from a month earlier due to increased returns from its assets.

The on-month gain was preceded by a steep drop of $8.96 billion in March, which is its sharpest decline since November 2008.

The decline was caused by the advance of the U.S. dollar during the pandemic.

FX reserves held in foreign securities reached $361.51 billion at end-April, rising by $3.91 billion from the previous month.

On the other hand, the country foreign savings slipped $500 million to $31.23 billion during the said period.

South Korea remained in the ninth position among the world's largest holders of foreign exchange reserves, with China at number one, followed by Japan and Switzerland.