Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) Jiye Kim Journalist = South Korea’s foreign exchange reserve has dropped $1.14 billion at the end of November, came to $368.46 billion, according to a report of the Bank of Korea.

The reserve had continued its gentle upward climb before stepped back in November. The shift is due largely to the recent positive expectations for the U.S. dollar strength.

“The recent appreciation of the U.S dollar affects the currency exchange rate of other counties, including the euro and Korean won.” Yang Yang-hyun, a senior manager of BOK explained.

As of end-October, South Korea ranked the world's seventh largest holder of foreign reserves.

NSP News Agency/NSP TV Jiye Kim Journalist, graekim@nspna.com
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