Seoul: The Republic of Korea's foreign exchange reserves increased to US$427.88 billion at the end of April, reflecting a $4.22 billion rise from the previous month, as indicated by data from the Bank of Korea.
According to Emirates News Agency, the central bank noted that this increase marked a recovery from the $3.97 billion decline observed in March, which had been the largest monthly decrease in about a year. The bank attributed the growth in reserves to the appreciation in the value of foreign currency-denominated assets against the US dollar and improved investment returns, despite implementing market stabilisation measures such as foreign exchange swaps with the National Pension Service.